Tax Credits/Deductions
15 sections in this chapter.
280-20-20-280-RICR-20-20-1 Investment Tax Credit
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My Page Title1.1Authority and PurposeA.Effective January 1, 1998 the investment tax credit statute (R.I. Gen. Laws Chapter 44-31) was extended to provide a ten percent (10%) tax credit to manufacturers and certain non-manufacturers ("qualified taxpayers") which meet statutorily d…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-10 Rules and Regulations for the Wavemaker Fellowship Program
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My Page Title10.1Jointly Promulgated RegulationA.The Rhode Island Commerce Corporation and the Rhode Island Division of Taxation jointly promulgate 870-RICR-30-00-1, "Rules and Regulations for the Wavemaker Fellowship Program."B.This Part hereby adopts and references 870-RICR-30-…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-11 Small Business Capital Development
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My Page Title11.1General R.I. Gen. Laws Chapter 44-43 provides special tax incentives for small business capital development. These special incentives are of three types: deductions or modifications for investment, capital gain exclusions and wage credits. 11.2Certification No de…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-12 Elective Deduction for New Research and Development Facilities
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My Page Title12.1General A.For taxable years beginning on or after July 1, 1974, at the election of a taxpayer who is subject to the income tax imposed by R.I. Gen. Laws Chapter 44-11 or 44-30, there shall be deducted from the portion of its entire net income allocated within thi…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-13 Daycare Assistance and Development Tax Credit
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My Page Title13.1General A.R.I. Gen. Laws Chapter 44-47 provides a Rhode Island employer or the owner of Rhode Island commercial property credits against the business corporation tax (R.I. Gen. Laws Chapter 44-11); the public service corporation tax (R.I. Gen. Laws Chapter 44-13 …
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-14 Research and Development Property Credit
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My Page Title14.1General A credit is available to corporations, sole proprietors or passed through from partnerships, joint ventures or subchapter S corporations for research and development property acquired, constructed, reconstructed or erected after July 1, 1994. The credit i…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-15 Tax Incentives for Employers
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My Page Title15.1General Effective January 1, 1998, an incentive in the form of a deduction or modification is available to businesses who hire employees who are Rhode Island residents and who have been "unemployed" as defined in § 15.2(A)(2) of this Part. Once each employee has …
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-16 Disabled Access Credit for Small Businesses
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My Page Title16.1General Effective January 1, 1998, a small business taxpayer that pays for or incurs expenses in Rhode Island to provide access to persons with disabilities shall be allowed a 10% credit up to $1,000 against the Business Corporation Tax (R.I. Gen. Laws Chapter 44…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-2 Research and Development Expenses Credit
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My Page Title2.1GeneralA credit is available to corporations, sole proprietors, or passed through from partnerships, joint ventures or subchapter S corporations for qualified research expenses. The credit is 5% of the excess (if any) of the qualifying research expenses in the tax…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-3 Historic Structures Tax Credit
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My Page Title3.1Authority In accordance with R.I. Gen. Laws § 44-33.2-4, as amended by the General Assembly, the Tax Administrator of the Division of Taxation, Department of Revenue and the Executive Director of Historical Preservation and Heritage Commission (the Commission), he…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-4 Residential Lead Abatement Income Tax Credit
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My Page Title4.1Purpose These rules and regulations implement R.I. Gen. Laws Chapter 44-30.3. That chapter allows a refundable credit against Rhode Island personal income taxes due for residential lead paint removal or reduction.4.2AuthorityThese rules and regulations are promulg…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-5 Rules and Regulations for the Certification of Motion Picture Production Tax Credits
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My Page Title5.1Purpose These rules implement R.I. Gen. Laws Chapter 44-31. These rules govern the procedures for the application, certification, and issuance of these tax credits. 5.2Authority These rules and regulations are jointly promulgated by the Rhode Island Division of Ta…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-6 Historic Preservation Tax Credits 2013
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My Page Title6.1PurposeThe purpose of this rule making is to implement R.I. Gen. Laws Chapter 44-33.6 “Historic Preservation Tax Credits 2013.” This chapter creates economic incentives for the purpose of stimulating the redevelopment and reuse of Rhode Island’s historic structure…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-8 Rules and Regulations for the Rhode Island Qualified Jobs Incentive Act of 2015
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My Page Title8.1Jointly Promulgated RegulationA.The Rhode Island Commerce Corporation and the Rhode Island Division of Taxation jointly promulgate 870-RICR-30-00-4, "Rules and Regulations for the Rhode Island Qualified Jobs Incentive Act of 2015.”B.This Part hereby adopts and ref…
Chapter 280-20-20Open chapter PDF ↗280-20-20-280-RICR-20-20-9 Rules and Regulations for the Rebuild Rhode Island Tax Credit Program
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My Page Title9.1Jointly Promulgated RegulationA.The Rhode Island Commerce Corporation and the Rhode Island Division of Taxation jointly promulgate 870-RICR-30-00-3, "Rules and Regulations for the Rebuild Rhode Island Tax Credit.”B.This Part hereby adopts and references 870-RICR-3…
Chapter 280-20-20Open chapter PDF ↗