There are a few administrative procedures that any business owner in Rhode Island must complete. Depending on the kind of business structure you select, one of these is registering your company with the state. This article will cover the price of forming an LLC, how to convert it to a S Corp, how to go solo, how to register a trademark for a company name, and how long it takes to form an LLC in Rhode Island. How much does it cost to form an LLC in Rhode Island? You must submit Articles of Organization to the Secretary of State together with a $150 filing fee in order to form an LLC in Rhode Island. Additionally, Rhode Island mandates that you post a notice of the creation of your LLC in a neighborhood newspaper for a period of two weeks. Your outlay will range from $50 to $200, depending on the newspaper you pick. How can I convert my LLC to a S Corp? You must submit Form 2553 to the IRS in order to convert your LLC into a S Corp. Your LLC can be taxed as a S Corp using this form. Your LLC must adhere to specific criteria in order to be eligible, such as having just one class of stock and no more than 100 stockholders. Furthermore, it’s crucial to understand that converting your LLC to a S Corp has no impact on your company’s legal liability protection or management structure. How can I register as a sole proprietorship in Rhode Island? You must dissolve your existing corporate or LLC structure in order to register as a sole proprietorship if you are already an LLC or corporation and want to change your business structure. You must submit a Certificate of Trade Name together with a $50 filing fee to the Rhode Island Secretary of State’s office in order to achieve this. Additionally, you’ll need to acquire any licenses and permits your business may require.
How can you register a business name as a trademark taking this into account?
You must submit a trademark application to the United States Patent and Trademark Office (USPTO) in order to register a company name as a trademark. The word, phrase, or logo you want to trademark should be included in the application along with information about the products or services you provide. Depending on the application type and filing method, submitting a trademark application might cost anywhere between $225 and $600.
How long does it take Rhode Island to authorize an LLC? Depending on the filing type you select, Rhode Island’s processing times for LLC formations vary. Your LLC will be approved if you file online within 24 hours. The processing of your LLC formation can take up to ten business days if you file by mail. Remember that if your application is lacking or needs more information, the procedure could take longer.
A notice of incorporation must be published in a local newspaper, which adds another $50 to the $150 registration fee for an LLC in Rhode Island. While becoming a sole proprietorship necessitates dissolving your current business form and registering as a sole proprietorship, changing your LLC to a S Corp only involves submitting Form 2553 with the IRS. The processing period for an LLC creation in Rhode Island varies depending on the filing type you select, and you must submit a trademark application with the USPTO in order to register a business name as a trademark.
In Rhode Island, you can file an LLC or other type of business formation and act as your own registered agent. It is crucial to keep in mind that a registered agent is tasked with receiving legal documents and other crucial notices on behalf of the company. As such, it is a serious responsibility, so you should confirm that you are available and qualified to carry out your obligations as a registered agent. You must also provide a physical address in Rhode Island where legal documents can be delivered during regular business hours if you decide to act as your own registered agent.