Form a S-Corp in Rhode Island
Everything you need to know about forming a S-Corp in Rhode Island. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Choose Corporate Name
Select a unique name ending with Corporation, Corp., Incorporated, or Inc. Check availability through RI Secretary of State.
30 minutes
Appoint Registered Agent
Designate a registered agent with a Rhode Island address to receive legal documents.
15 minutes
File Articles of Incorporation
Submit Articles of Incorporation to Rhode Island Secretary of State with required information and $230 filing fee.
45 minutes
Obtain EIN
Apply for Federal Employer Identification Number from the IRS for tax purposes.
20 minutes
What's Next After Filing
Once your S-Corp is officially formed, you'll want to complete these important steps:
- •File S-Corp Election — Submit Form 2553 to IRS within 75 days of incorporation to elect S-Corporation tax status.
- •Create Corporate Bylaws — Draft internal bylaws governing corporate operations and hold organizational meeting.
- •Issue Stock Certificates — Issue stock to initial shareholders and maintain corporate records.
Advantages
- ✓Pass-through taxation avoids double taxation
- ✓Limited liability protection for shareholders
- ✓Enhanced business credibility and structure
- ✓Ability to have employee-shareholders receive tax-advantaged benefits
Considerations
- •Strict IRS requirements and restrictions on shareholders
- •Required corporate formalities and record-keeping
- •Limited to 100 shareholders, all must be US citizens/residents
Annual Obligations
What OpenChamber Does
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