50 State Series: How to move your LLC or corporation out of Rhode Island and keep your EIN

Attorney and CPA Chad D. Cummings explains Rhode Island’s ongoing tax competitiveness challenges in this presentation. The state ranks 40th on the Tax Foundation’s 2026 State Tax Competitiveness Index with below-average performance across all major categories. Rhode Island maintains a graduated individual income tax topping out at 5.99 percent with a marriage penalty, a 7.0 percent corporate income tax, an estate tax, and complex unemployment insurance rules. A proposed surcharge would push the top individual rate to 8.99 percent. These burdens create a high effective tax environment in a small state where crossing the border is easy. Florida and Texas impose no state personal income tax and offer far more competitive structures. This presentation shows how redomestication allows Rhode Island business owners to transfer a corporation or LLC to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Rhode Island, the ranking and policy direction make a compelling case for change. Learn more: https://www.cummings.law/redomestication/