StructureCost2026

LLC or S corp for a photographer in Rhode Island (2026)

A photographer in Rhode Island with $50,000 of profit pays $10,858 a year in tax and fees as a sole proprietor and $12,410 as an LLC taxed as an S corp, with a $35,000 salary. The S corp starts to pay at about $290,000 of profit.

More settings revenue, salary, filing status, payroll costs, PTET

+$1,552 a year

more for an LLC taxed as an S corp than a sole proprietorship in Rhode Island, at these numbers.

Switching from a sole proprietorship to an LLC taxed as an S corp starts to pay at about $290,000 of profit, with the same settings. Setting up costs $150 once in state filing fees.

Rhode Island, 2026: $50,000 profit, single filer

ItemSole propLLC as S corpChange
Self-employment taxirs.gov, 2026 rates$7,065$0−$7,065
Federal income taxirs.gov, 2026 rates$2,667$2,947+$280
State income taxtax.ri.gov, checked Oct 23, 2026$1,126$1,058−$68
Annual Report (Form 632)docs.sos.ri.gov, checked Oct 23, 2026$0$50+$50
Payroll tax on your salaryirs.gov, 2026 rates$0$5,770+$5,770
State disability and paid leavedlt.ri.gov, checked Oct 23, 2026$0$385+$385
Payroll service and tax return (estimate)$0$1,800+$1,800
Rhode Island S corporation minimum taxtax.ri.gov, checked Oct 23, 2026$0$400+$400
Yearly cost$10,858$12,410+$1,552
What these figures count
  • State income tax, and state taxes on the business itself: franchise, LLC, S corp, gross receipts and excise taxes.
  • Social Security and Medicare on both sides of an owner salary, federal unemployment tax and the state's new-employer rate.
  • The 20% qualified business income deduction with its income limits and the professional-service rule.
  • Yearly report fees, and a cost you can change for payroll and the business tax return.

Many S corp calculators leave out state taxes and the QBI deduction, which can make the election look better than it is.

At three profit levels

ProfitSalary usedSole propLLCLLC as S corpC corp
$30,000$21,000$5,610$5,947$7,220$7,964
$50,000$35,000$10,858$11,188$12,410$13,807
$70,000$45,000$16,166$16,496$16,858$19,728

Salary is the BLS median for the job ($44,660), capped at 70% of profit. Revenue 2.5 times profit. Single filer.

What matters for photographers

What the switch takes in Rhode Island

  1. File the Articles of Organization (Form 400) with the state: $150 (fee).
  2. Get an EIN from the IRS (free, online) and open a business bank account in the new name.
  3. Check the business can elect: no more than 100 shareholders, all of them US citizens or residents (no nonresident alien owners), and one class of stock. IRS
  4. File IRS Form 2553 to elect S corp tax treatment, within 2 months and 15 days of the start of the tax year it should apply to. See how the S corp election works.
  5. Register with Rhode Island as an employer and run payroll for your own salary: federal Forms 941 each quarter, Form 940 and a W-2 each year. New employers pay Rhode Island unemployment tax at 1% on the first $30,800 of wages. dlt.ri.gov See what payroll costs.
  6. Federal return each year: Form 1120-S, due March 15, plus your own Form 1040.
  7. State upkeep each year: Annual Report (Form 632), $50 a year, due Between February 1 and May 1. New for you: Rhode Island S corporation minimum tax.

Questions

Should a photographer in Rhode Island form an S corp?

At $50,000 of profit, not on these figures: the S corp costs $1,552 a year more than staying a sole proprietor.

Is an LLC worth it for a photographer in Rhode Island?

For tax, a single-member LLC changes nothing: $11,188 a year against $10,858, the difference being Rhode Island's LLC fees and LLC taxes. It separates business liability and is the base for an S corp election.

More

Other professions in Rhode Island
Other states