The bill amends several sections of the Rhode Island Limited Liability Company Act, focusing on the dissolution process, filing fees, and tax obligations for limited liability companies (LLCs). It establishes that an LLC can be dissolved without needing to obtain a letter of good standing from the division of taxation. Additionally, it increases the filing fee for the original articles of organization from $150 to $500 and eliminates the annual tax return filing requirement and the minimum tax for LLCs.

The bill also specifies that a single-member LLC is exempt from the filing requirements outlined in the new provisions. The changes are designed to streamline the process for LLCs in Rhode Island and reduce their financial burdens, taking effect upon passage of the bill.

Statutes affected:
413: 44-11-2