How Long Does It Take to Form an LLC in Rhode Island?
If you're launching a Rhode Island business, the best business decision is to form an LLC. An LLC will separate and safeguard your personal assets. But before you start, knowing how long it will take to form one is a good idea.
As a business consultant and tax attorney, I helped clients form their LLCs in several states.
Together with LLC specialists in Rhode Island, we reviewed the processing times for forming a limited liability company in the state by examining the recent official records of the Secretary of State.
To guide you through the process, you can employ the best LLC services in Rhode Island. Although these seven services listed above wouldn’t speed up your LLC's registration, they present an extensive range of affordable options that satisfy all the necessary conditions for establishing an LLC.
Quick Summary
- It takes 2 weeks to form an LLC in Rhode Island if you submitted your application by mail, and 1 to 2 business days if you filed online.
- The state does not offer expedited service.
- The Rhode Island Secretary of State reports a consistent annual increase of approximately 20% in new LLC registrations.
- In my experience, it's important to choose the best filing method that conforms to your timeline. Make sure all documents and requirements are in order.
What is The Fastest Way to Start an LLC in Rhode Island?
The fastest way to start an LLC in Rhode Island is by filing online through the Department of State website. The approval time only takes 1 to 2 business days, afterwhich, the document will be available for download.
Pay a \$150 filing fee plus a \$6 "enhanced fee" to complete the process. Filing fees can be settled using a check or credit card on the Business Services Division [1].
"Ensure all details are accurate to avoid processing delays for your Rhode Island LLC."
- Jon Morgan, CEO, Co-Founder and Editor-in-Chief of Venture Smarter
LLC Processing Time in Rhode Island
Rhode Island LLC processing time varies with the filing method. Here are the turnaround times for each filing method.
1. Non-Expedited Rhode Island LLC Processing Time By Mail (2 weeks)
Rhode Island LLC processing time for mail filings takes 2 weeks. This considers the processing period of 3-4 working days and the time your documents spend in the mail.
After thorough research, we learned that you can download and print the Articles of Organization online and send the application, together with a \$150 check or money order (not cash) to:
Rhode Island Secretary of State
Division of Business Services
148 W. River Street
Providence, RI 02904
2. Rhode Island LLC Processing Time Online (1-3 business days)
All online filings are submitted to the Department of State, Business Services Division website.
Rhode Island LLC online filing takes 1 to 3 business days to be completed. That's why I prefer and recommend online applications when forming an LLC.
To download your documents:
- Visit the Corporate Database of the Rhode Island Secretary of State and look up your LLC using its name.
- Click the name of your LLC on the results page. Choose "ALL FILINGS" and click the "View Filings" option at the bottom of your LLC's online record.
- To download and preserve your records, look for "Articles of Organization" and click the right link [2].
Data from the Rhode Island Division of Taxation indicates that over 65% of LLC formations in the state are conducted online, reflecting the business community's growing preference for the speed and convenience of online transactions.
Factors Influencing The Formation Timeline Of Rhode Island LLCs
Although there is an actual timeframe of the formation process, there are several factors that may prolong the processing time for Rhode Island LLCs.
These include the following:
- Processing Errors: If your online registration filing was not accepted, it could prolong the formation process. I tell my clients to always check the confirmation receipt on the state’s corporate database [3].
- Workload volume: The processing time may be prolonged due to the volume of applications received by the state.
- Seasonal Variations: Majority of businesses prefer to start their LLCs during the beginning of the year, as such, there are multiple filings and applications during this time.
- Document issues: The state will reject your application if the document contains inaccurate date or lacks information. You will receive an email detailing the reasons for rejection and the procedure to correct the filing.
The Rhode Island Secretary of State reports a consistent annual increase of approximately 20% in new LLC registrations, indicating a steady growth in the state's small business sector and entrepreneurial initiatives.
FAQs
Where Can I Check the Status of My Rhode Island LLC Formation During the Processing Period?
You can check the status of your Rhode Island LLC formation during the processing period through the Corporate Database.
Is There a Difference in Processing Time for Domestic and Foreign LLCs in Rhode Island?
There is no difference in processing time for domestic and foreign LLCs in Rhode island.
Does Rhode Island Require A General Business License for LLCs?
Rhode Island does not require a general business license for LLCs to operate in the state. However, you may need to acquire a professional license or permits depending on the nature of your business.
References:
- https://www.sos.ri.gov/divisions/business-services/ri-business/start-your-rhode-island-business
- https://business.sos.ri.gov/corpweb/corpsearch/corpsearch.aspx
- https://www.sos.ri.gov/divisions/business-services/filing-confirmation-rejection
