A Series LLC is a unique form of a limited liability company that allows for the creation of multiple, distinct series or cells within a single LLC. Each series operates independently, with its own assets, liabilities, and members. This structure allows for the segregation of assets and liabilities among the series, providing liability protection for each series from the debts and obligations of the others.
As of the current date, Rhode Island does not authorize the formation of Series LLCs under its state laws. The Rhode Island Limited Liability Company Act does not include provisions for Series LLCs, which means that businesses seeking to form a Series LLC must consider other jurisdictions that permit such structures.
Since Series LLCs are not permitted in Rhode Island, there are no specific filing fees or costs associated with their formation in the state.
Rhode Island does not impose a franchise tax on Series LLCs, as they are not recognized under state law.
This article provides general information about Rhode Island LLC formation requirements under the Rhode Island Limited Liability Company Act. It is not intended as legal advice. Persons forming an LLC should consult with a private attorney regarding their specific circumstances.
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