Add Arrows Legal Rhode Island Business Forms For Free

You can notify relevant local, state, and federal licensing authorities about your business name change by contacting each agency directly. You can find name change forms for certain licenses online and may be able to submit the forms online, depending on the agency.

How to Change an Existing Business Name Understand why you're changing your business name. Conduct a name search. Obtain approval. Notify the Secretary of State and contact the IRS. Determine if you will need a new EIN. Update business licenses and permits. Speak with a legal professional.

Registering an LLC has far-reaching legal and financial implications for the business owner(s). The RI Department of State processes all filings within two business days, so there is no need to rush. We encourage you to take your time to read through the information below and assess your readiness to register.

Contact Phone Numbers: RI Division of Taxation - 401-574-8829 (Option 5) - sales tax questions (Do you need a permit to make sales at retail? Questions about what is taxable.)

Tax-exempt goods Examples include most non-prepared food items, prescription medications, and some clothing. We recommend businesses review the laws and rules put forth by the Rhode Island Division of Taxation to stay up to date on which goods are taxable and which are exempt, and under what conditions.

Common exemptions Rhode Island imposes a 7 percent sales tax on the sale of most tangible items. However, the state offers exemptions on a range of goods and services, as well as for certain organizations and types of sales. Common exempt goods include clothing and footwear, food, and medical items.

The sales tax is a levy imposed on the retail sale, rental or lease of many goods and services. Any sale is a retail sale if the property or service sold will be used and not resold in the regular course of business. The sales tax is imposed upon the retailer at the rate of 7% of the gross receipts from taxable sales.

As of 2023, clothing and footwear in Rhode Island are subject to the state's standard sales tax rate of 7%. There are no additional local sales taxes, so the rate remains consistent across the state.

In order to apply for tax exemption as a 501(c)(3), the non-profit corporation must be organized and operated exclusively for religious, charitable, educational or other defined purposes. An entity that has received 501(c)(3) exemption from the IRS can apply for exemption from RI sales and use tax as well.