Add Markups Legal Rhode Island Startup for Sole Proprietorship Forms For Free

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.)

If your company does or will do business in Rhode Island, but it was not formed in Rhode Island, you will often need to obtain Foreign Qualification. Typically, “doing business” is defined by activities such as maintaining a physical office or having employees in the state.

Rhode Island considers a seller to have physical nexus if you have any of the following in the state: An office or place of business. An employee, representative, contractor, agent, salesperson, etc. present in the state.

Beneficial Ownership Information (BOI) refers to the information that certain businesses must report to regulatory authorities, outlining details about the individuals who ultimately own or control the company.

For example, California's Franchise Board defines it as “actively engaging in any transaction for the purpose of financial or pecuniary gain or profit.” If you want that in English, “doing business” is essentially a legal term that means your company has established a sufficient financial foothold in a state's business ...

How a Tax Sale Auction in Rhode Island Works. At the public auction, the smallest undivided part of your property, but not less than 1%, or the whole parcel if no person offers to take an undivided part, will be sold to a new owner (the purchaser) for the owed amount of taxes, interest, assessments, and charges.

To record received sales tax from customers, debit your Cash account, and credit your Sales Revenue and Sales Tax Payable accounts. When you remit the sales tax to the government, you can reverse your initial journal entry. To do this, debit your Sales Tax Payable account and credit your Cash account.

You can register for a Rhode Island seller's permit online through the Rhode Island Division of Taxation. To apply, you'll need to provide the Rhode Island Division of Taxation with certain information about your business, including but not limited to: Business name, address, and contact information. Federal EIN number.

The sales tax is imposed upon the retailer at the rate of 7% of the gross receipts from taxable sales. In addition to the sales tax, there is also a 6% hotel tax on the rental of rooms in hotels, motels or lodging houses.