Rhode Island LLC Cost
The minimum Rhode Island LLC cost is $150, which covers the filing fee for the Articles of Organization.
However, the total cost of establishing a Rhode Island LLC can vary depending on your business needs and personal preferences.
In our Rhode Island LLC Cost article, we provide a detailed overview of the costs associated with starting and maintaining an LLC in the state.
More than 84% of our readers form their LLC through a professional service to save time and avoid mistakes.
Northwest ($29 + State Fees)
How Much Does a Rhode Island LLC Cost
Below is a summary of the primary requirements and associated fees for forming a Rhode Island LLC.
 |
LLC Cost Summary |
|
| Requirement | Fee | |
| Articles of Organization | $150 | |
| Registered Agent | $0-$200 | |
| LLC Name | $0-$100 | |
Rhode Island LLC Filing Fee ($150)
To legally form an LLC in Rhode Island, you’ll need to submit the Articles of Organization to the Secretary of State.
The filing fee is $150, which applies regardless of whether you’re forming a domestic LLC (within Rhode Island) or a foreign LLC (an LLC based outside Rhode Island but conducting business in the state).
If you choose to use an LLC formation service, the total cost will increase due to the addition of a service fee on top of the state filing fee. LLC formation services typically start at $29, with additional costs being levied for extra features — such as obtaining an EIN and getting a business phone number.
Have a look at our in-depth review of the best and most affordable LLC Formation Services in 2024.
Rhode Island Resident Agent ($0-$200)
As part of your LLC formation, you must appoint a resident agent, which is an individual or business entity responsible for receiving legal and governmental documents on behalf of your LLC. This is commonly known as a registered agent outside of Rhode Island.
You can act as your own resident agent at no cost, but many business owners choose to hire a professional service to ensure compliance with state regulations and to keep all personal information private.
Registered agent services in Rhode Island start at around $50 per year, with more comprehensive services costing between $100 and $300+ annually.
Note: If your registered agent changes, you must notify the Rhode Island Department of State by filing Form 642: Change of Resident Agent.
Get a Free Registered Agent Service
Form an LLC with Northwest Registered Agent to get one year of registered agent services free of charge ($29 + State Fees).
Rhode Island LLC Name ($0-$100)
While the process of naming your Rhode Island LLC doesn’t incur a direct cost, there are two potential expenses to be aware of.
Reserving a Name
If you’ve chosen a name but aren’t ready to form your LLC right away, you can reserve it for 120 days by filing an online application with the Secretary of State for a $50 fee.
It’s essential to verify that your desired name is available, as Rhode Island will not allow the registration of a name that’s too similar to an existing one.
You can verify this through the Rhode Island Department of State’s Corporate Database.
Moreover, it’s a good idea to check that your name’s corresponding domain is available, as you’ll need this for your business’s website.
Doing Business As (DBA) Name
If you plan to operate your business under a different name than its legal entity name, you must file for a DBA (Doing Business As) name.
In Rhode Island, you can register a DBA by filing a Fictitious Business Name Statement online or by mail for a $50 fee.
Note: DBA names in Rhode Island do not expire or require renewal.
Optional Rhode Island LLC Formation Costs
Besides the standard fees, there are additional costs that may apply depending on your LLC’s unique circumstances and needs.
Rhode Island LLC Operating Agreement
While not legally required, it’s a good idea for Rhode Island LLCs to have an operating agreement. This document outlines the roles and responsibilities of LLC members and/or managers and helps prevent disputes.
You can create an operating agreement yourself at no cost, or hire an online service or business attorney to draft one for you, typically for several hundred dollars. Keep in mind that there are benefits to drafting an operating agreement even as a single-member LLC.
This document is for internal use only and does not need to be filed with the state.
Local Business Licenses
Your LLC might need one (or several) local business licenses— depending on its location and activities.
For example, if your LLC operates as a vendor in North Providence, you will need to obtain a vendor license for $100.
Certificate of Good Standing
A Certificate of Good Standing verifies that your LLC is properly registered and legally authorized to conduct business in the state.
This certificate is often required when opening a business bank account or applying for loans.
You can obtain this certificate from the Rhode Island Secretary of State online, by phone, by mail, or in person for a $20 fee.
Certified Copies of Business Documents
You may need certified copies of your business documents for various legal or financial reasons. These can be obtained from the Rhode Island Secretary of State for $10 plus $0.15 per page.
Ongoing Costs to Maintain a Rhode Island LLC
In addition to the formation costs, there are ongoing expenses for maintaining an LLC in Rhode Island.
Annual Report Fee
Rhode Island requires all LLCs to file an Annual Report to maintain good standing.
The report costs $50 and must be filed either online or by mail between September 1 and November 1 each year.
Keep in mind that late filings incur a $25 penalty.
Registered Agent Maintenance
If you choose to use a professional registered agent to handle your legal documents, you’ll need to pay an annual fee for their services.
The cost of this service varies, typically ranging from $125 to $300 per year, depending on the provider and the features you select.
Even though this step is not mandatory, we generally recommend all new business owners to hire a registered agent service.
This is because your LLC’s registered agent’s information will become publicly available after your LLC is formed.
Ready to Get Started?
Have a look at our LLC Rhode Island Guide (DIY Approach)
Let Northwest Registered Agent handle it for you ($29 + State Fees)
Rhode Island LLC vs Other States
Rhode Island’s formation costs are mid-range compared to other states.
While the initial $150 fee may seem high, the state’s ongoing maintenance costs are competitive, making it an appealing option for many business owners.
Regardless, it’s important to note that the best state to form your LLC in will generally be the one in which you plan to operate.
This simplifies compliance as you’ll only have to adhere to one state’s regulations (and thus pay only one state’s registration and maintenance fees).
Rhode Island LLC Cost FAQ
To establish an LLC in Rhode Island, you need to file the Articles of Organization with the Department of State. This can be done online, by mail, or in person, and the cost is $150.
Yes, in Rhode Island an LLC can operate under a fictitious name or trade name. This allows for greater flexibility in marketing and branding the business. However, remember to register this name with the state to ensure it's unique and not used by another entity.
LLCs in Rhode Island are required to file an annual report with the Department of State, which comes with a fee of $50. This helps the state maintain updated records on your LLC's activities and contact information.
Using an LLC formation service in Rhode Island can save businesses time and effort, especially for those unfamiliar with the LLC setup process. Such services handle paperwork, ensure all state-specific requirements are met, offer guidance on naming conventions (like fictitious or trade names), and help with ongoing compliance tasks. Some may also provide Resident Agent services, adding another layer of convenience for the LLC owners.
To confirm if your chosen LLC name is available in Rhode Island, you can use the state's Corporate Database for a search. This will let you know if your preferred name is already in use by another business entity in the state.
In Rhode Island, a Certificate of Good Standing is a document issued by the Department of State verifying that an LLC is legally registered to do business in the state and is in compliance with all state requirements. This document may be required when seeking financing, entering contracts, or registering to do business in another state.
Article Sources
Rhode Island Division of Taxation:
https://tax.ri.gov
IRS - Employer ID Numbers:
https://www.irs.gov/businesses/small-businesses-self-employed/employer-id-numbers
Rhode Island Department of State:
https://www.sos.ri.gov/
SBA - Apply for licenses and permits:
https://www.sba.gov/business-guide/launch-your-business/apply-licenses-permits\
Chamber of Commerce - Rhode Island Chamber of Commerce List:
http://www.officialusa.com/stateguides/chambers/rhodeisland.html