Monday, April 22, 2013

Two business-related regulations just posted

The Rhode Island Division of Taxation this afternoon posted two proposed regulations:

  • One involves single-member limited liability companies (LLCs) that are treated as disregarded entities for federal tax purposes. Under the proposed regulation (CT 13-14), the entities generally would be required to obtain a federal Employer Identification Number (EIN) in order to file their Rhode Island return.
  • The other proposed regulation – CT 13-08 –involves the residential lead abatement income tax credit. The regulation would be updated to reflect current state law.

Both proposed regulations are on the Rhode Island Secretary of State’s website: A public hearing on them is to be held on May 22, 2013, at 9:30 a.m. at the Division of Taxation, One Capitol Hill, Providence, R.I.