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Rhode Island Statement of Assets Liabilities Income and Expenses

State:
Rhode Island
Control #:
RI-SKU-0324
Format:
PDF
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Statement of Assets Liabilities Income and Expenses

The Rhode Island Statement of Assets Liabilities Income and Expenses (ROSALIE) is an annual filing requirement for any individual, business, or organization doing business in the state of Rhode Island. ROSALIE requires a comprehensive financial statement that includes a balance sheet, income statement, and statement of changes in equity. The statement is used to assess and evaluate a business's financial health and performance. It is used by organizations to identify potential areas of improvement in their finances and operations. The ROSALIE filing requirements are divided into two categories: Corporate and Non-Corporate. The Corporate ROSALIE filing requires entities to provide a balance sheet, income statement, statement of changes in equity, and a statement of cash flows. Taxpayers are required to break down their assets by type, such as cash, accounts receivable, inventory, and property, plant, and equipment. The liabilities must be broken down into current liabilities and long-term liabilities. The income statement must include revenues, cost of goods sold, gross profit, expenses, and net income. The Non-Corporate ROSALIE filing requires entities to provide a balance sheet, income statement, and statement of changes in equity. Taxpayers are required to break down their assets by type, such as cash, accounts receivable, inventory, and property, plant, and equipment. The liabilities must be broken down into current liabilities and long-term liabilities. The income statement must include revenues, cost of goods sold, gross profit, expenses, and net income. The ROSALIE filing is due on the 15th day of the 4th month following the close of the taxpayer's taxable year. Taxpayers must file the statement electronically with the Rhode Island Division of Taxation.

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FAQ

The Office of Child Support Services will serve notice upon a non-custodial parent who owes ninety (90) days worth of child support payments of the agencies intention to submit his/her name for license revocation or suspension.

In most cases, child support obligations end when a child reaches the age of 18 or when the child graduates from high school. However, payments do not stop automatically on the child's birthday. The parent must file a motion to terminate child support with the Rhode Island Family Court.

Pursuant to Section 15-8-4 of the Rhode Island General Laws, the plaintiff mother or State may pursue past liabilities for a period of six (6) years prior to the filing of a complaint.

Assets are what a business owns, and liabilities are what a business owes. Both are listed on a company's balance sheet, a financial statement that shows a company's financial health. Assets minus liabilities equal equity?or the company's net worth. Ideally, a company should have more assets than liabilities.

Under Rhode Island law, divorcing spouses have a duty to support any children they have together. The parent that lives with the child (custodial parent) is expected to give financial and emotional support directly.

6 shall be filed with Complaints for Divorce, Bed and Board Divorce, Miscellaneous Complaints, or Child Support Complaints. 6 shall be filed with Answers or Counterclaims or Modifications of Prior (Support) Orders.

If a parent or citizen under a support obligation is determined to be in willful contempt by a Justice of The Rhode Island Family Court for not paying RI child support, the nonpaying parent could be sentenced to the aci (jail) from day to day.

Motion to Adjudge in Contempt-If a non - custodial parent falls behind in his/her child support payments, a motion to adjudge in contempt may be filed by the child support agency. The filing of this motion is triggered when four (4) months worth of child support is due and owing.

More info

A balance sheet provides detailed information about a company's assets, liabilities and shareholders' equity. A balance sheet is a financial statement that reports a company's assets, liabilities and shareholder equity at a specific point in time.A balance sheet is a statement of a business's assets, liabilities, and owner's equity as of any given date. The balance sheet comprises assets, liabilities and owner's equity toward the end of the accounting period. Assets. Both IFRS and US GAAP have the same elements as components of financial statements: assets, liabilities, equity, income, and expenses. An income statement tallies income and expenses; a balance sheet, on the other hand, records assets, liabilities, and equity. This order makes it easy to complete the financial statements. A balance sheet is a snapshot of assets, liabilities and fund balances (net assets) on a particular date. Total. 2. Transportation. Actual Monthly. Expenses. Complete redacting the form.

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Rhode Island Statement of Assets Liabilities Income and Expenses