Rhode Island Small Business Startup Package for S-Corporation

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State:
Multi-State
Control #:
US-P107-PKG
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Description

The package is designed to assist an S corporation in running the corporation by providing a large selection of necessary and commonly used forms at a greatly reduced price. The forms provided are valuable tools to ensure the smooth operation of typical business affairs. Purchase of this package is a savings of over 75% off the price compared to purchase of the forms individually!


The documents in this package include the following:



Profit and Loss Statement - This is a general Statement of Profits and Losses for a company. It lists in detail, all profits, or gains, as well as all losses the business may have suffered. This form can be used by any type of company, whether a corporation or a sole proprietor.







2553-S Corp Election for Small Business - This form is used to be treated as a subchapter S corporation by the IRS.



General Trademark License Agreement - This form is a Trademark License Agreement. The licensor is the owner of certain trademarks and the licensee desires to use the trademark on the terms and conditions set forth in the agreement. The licensor agrees to grant to the licensee an exclusive worldwide right and license to use the trademark in connection with the licensee's product.



Investor Stock Purchase Agreement - This is a form authorizing the sale of stock to investors in a company. Detailed provisions cover the representations and warranties of both parties, as well as the specifics of the transaction.



Amendment to Bylaws - This is an Amendment to the Bylaws form, to be used across the United States. This is to be used as a model, and should be modified to fit one's own personal needs.


Job Invoice-Short - This form is a job invoice form. It contains provisions for a job description, starting date, completion date, date and hours worked, list of materials and costs, and an itemized statement of total due for materials, labor, and other.








Employment Agreement - General - This form is used when an Employee agrees to be employed by Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of Employer services as may be reasonably requested from time to time by the Employer. The agreement contains provisions for compensation, confidentiality, non-competition and breach of contract.



Employment Agreement with Covenant Not to Compete - This form is used when an Employee agrees to be employed by an Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of the Employer as may be reasonably requested from time to time by the Employer. This agreement contains a covenant not to compete clause.



Self-Employed Independent Contractor Employment Agreement General - A company agrees to hire a contractor to perform work on the terms and conditions set forth in the agreement. The contractor agrees that all financial and accounting records will remain the confidential property of the company. The form also provides that the company will reimburse the contractor for all reasonable and necessary expenses incurred by the contractor with the performance of his/her duties.



Secrecy, Nondisclosure and Confidentiality Agreement by Employee or Consultant to Owner - The first party has possession of proprietary information and know-how relating to an idea, product or service, and wishes to employ the second party but desires that the second party agree not to disclose information learned by second party during such employment. Both parties agree that all information, ideas, products or services, processes, written material, samples, models and all other information of any type, whether written or oral, submitted to the second party by the first party is now, and will remain, the property of first party.



Drug Testing Policy Disclosure and Consent Form - This form explains the drug testing policies of a particular company and includes a consent form.



Employee Permission to Do a Background Check - This is a form signed by an employee or prospective employee granting an employer permission to do a background check.



Employment Position Announcement - This form is a business type form that is formatted to allow you to complete the form using Adobe Acrobat or Word. This form allows an employer to announce that applicants for a position with the company are being sought.


Consultant Agreement - This form is a Consultant Agreement for use with consultants exposed to commercial trade secrets or other confidential information as part of their work with a business.


Internet Use Policy - This agreement is to be signed by an employee upon the request of a company concerning the proper uses of internet access. The agreement defines acceptable uses and states that the inappropriate use of the Internet may lead to denial of access or other action by the company.



Also included in this package are: Employment Termination Agreement, Cash Disbursements and Receipts, Check Request form, Daily Accounts Receivable, Yearly Expenses by Quarter, Petty Cash Form and Purchasing Cost Estimate

Are you considering starting a small business in Rhode Island and looking to form an S-Corporation? Look no further, as Rhode Island offers a comprehensive Small Business Startup Package specifically designed for entrepreneurs like you. This package provides an array of resources and services that will guide you through the process of starting your S-Corporation smoothly. The Rhode Island Small Business Startup Package for S-Corporation is tailored to assist new businesses in getting off the ground and ensuring their compliance with local laws and regulations. One of the key advantages of forming an S-Corporation is the potential tax benefits it provides, making this package even more appealing to aspiring entrepreneurs. Within this package, you will find various essential services necessary for starting your S-Corporation. Some primary components of the Rhode Island Small Business Startup Package for S-Corporation include: 1. Business Entity Formation: This service helps you choose and register your S-Corporation entity with the state of Rhode Island. Experienced professionals will guide you through the complex formation process, ensuring you select the most suitable legal structure for your business. 2. Employer Identification Number (EIN) Application: An EIN is a unique identifier assigned to your business by the Internal Revenue Service (IRS). This service assists you in obtaining an EIN, which is necessary for tax purposes, opening bank accounts, and hiring employees. 3. Rhode Island State Business Licenses and Permits: Understanding and obtaining the appropriate licenses and permits is crucial for operating your S-Corporation legally. The startup package includes assistance in identifying the licenses and permits relevant to your industry and guidance for the application process. 4. State Tax Registration: To ensure compliance with Rhode Island tax laws, you will receive assistance with registering your S-Corporation for state taxes. This may include sales tax, use tax, and any other applicable taxes based on your business activities. 5. Registered Agent Service: Every S-Corporation in Rhode Island is required to have a registered agent, who acts as the official point of contact for legal and other important documents. The startup package offers registered agent services to ensure you fulfill this requirement. Additionally, there might be different variations or specialized packages available based on your industry or specific needs. For instance, if you operate a professional service business, you might find specific startup packages tailored to professions such as accounting, legal services, medical practices, and more. When starting an S-Corporation in Rhode Island, it is essential to utilize the resources available through the Small Business Startup Package. By doing so, you can take advantage of expert guidance, save time and money, and ensure your business adheres to all necessary legal requirements. Start your entrepreneurial journey on the right foot with the Rhode Island Small Business Startup Package for S-Corporation.

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FAQ

How does Rhode Island's tax code compare? Rhode Island has a graduated individual income tax, with rates ranging from 3.75 percent to 5.99 percent. Rhode Island also has a flat 7.00 percent corporate income tax rate. Rhode Island has a 7.00 percent state sales tax rate and does not levy local sales taxes.

Follow these five steps to start a Rhode Island LLC and elect Rhode Island S corp designation: Name Your Business. Choose a Resident Agent. File the Rhode Island Articles of Organization. Create an Operating Agreement. File Form 2553 to Elect Rhode Island S Corp Tax Designation.

If you're looking to relocate and start your new business, Wyoming is a great choice. Not only is it the first state to make LLCs a legal business structure in 1977, but Wyoming also has no state income tax, a cheap sales tax rate which currently sits at 4% and a relatively inexpensive LLC filing fee of $100.

Regardless of how your LLC is structured or how much income you make, you'll need to pay a minimum of $400 to the Rhode Island Division of Taxation. Partnerships, disregarded entities, and S corporations pay the minimum business corporation tax of $400. Regular corporations pay $400 or more, depending on their profits.

Costs & Fees CorporationLimited Liability Company (LLC)(L3C)Initial RI Dept. of State Filing Fee$230$150RI Dept. of State Annual Report$50$50RI Division of Taxation Minimum Corporate Tax$400*$400*Additional Licensing FeesUse our Business Assistant to gather licensing information for your specific business type.

S Corporations: If a subchapter S corporation is taxable for federal purposes, it must attach RI Schedule S and compute and pay any tax due at the 7% tax rate.

Costs & Fees CorporationSole ProprietorInitial RI Dept. of State Filing Fee$230NoneRI Dept. of State Annual Report$50NoneRI Division of Taxation Minimum Corporate Tax$400*NoneAdditional Licensing FeesUse our Business Assistant to gather licensing information for your specific business type.

For a C Corporation, the rate of seven percent (7%) of net income apportioned to Rhode Island; or a minimum of $400.00, whichever amount shall yield the greatest tax.

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Jun 30, 2023 — If you've already formed an LLC or corporation, file Form 2553 with the Internal Revenue Service (IRS) to designate S corp taxation status. What ... Sep 29, 2023 — Step 1: Register a Business Name in Rhode Island ... After you have decided on the idea to start an S-Corp in Rhode Island, deciding the name for ...S-Corp*: Shareholders in proportion to investment. Or as stated in bylaws ... Complete an initial application for Articles of Organization, a filing fee of ... How to Form a Corporation in Rhode Island · Choose a corporate name · File your Articles of Incorporation · Appoint a registered agent · Start a corporate records ... S Corporations: A small business corporation having an election in effect under subchapter S of the Internal Revenue Code is required to file an annual tax ... This form provides a guideline for you to fill in with the details of your particular business so that it can be used to seek funding and other participation. Rhode Island corporation formation requirements from BizFilings. Our Rhode Island guide provides RI incorporation requirements for your business. Start your business today for $0 + RI state fee. Want to start a corporation in Rhode Island? All of our business formation packages include a FREE business tax ... Incorporating in Rhode Island is simple. Get access to filing times and fees, read state bylaws, finda list of required documents, and much more. Name your Rhode Island corporation · Appoint Directors · Choose a Rhode Island Statutory Agent · File the Rhode Island Articles of Incorporation · Create Corporate ...

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Rhode Island Small Business Startup Package for S-Corporation