Reminder: Deadline tonight for employer tax

Tonight's the deadline for employers to file their second-quarter wage and tax report and pay the tax due.

Streamlined Sales and Use Tax Agreement

The Division of Taxation recently filed documents with the Streamlined Sales Tax Governing Board in order to obtain annual recertification under the Streamlined Sales and Use Tax Agreement (SSUTA).

The Governing Board recertifies each member state of the SSUTA annually as of August 1.  The Division of Taxation recently filed with the Governing Board a recertification letter, as well as a taxability matrix and a certification of compliance.

Rhode Island became a full member of the Agreement on January 1, 2007. The purpose of the agreement is to simplify and modernize sales and use tax administration in order to substantially reduce the burden of tax compliance. The agreement focuses on improving sales and use tax administration systems.

Some out-of-state retailers have no physical presence in Rhode Island and are therefore not required to collect and remit the state’s sales and use tax. But because Rhode Island is a member of the SSUTA, some out-of-state retailers with no physical presence in Rhode Island voluntarily agree to collect and remit the tax anyway, generating in excess of $2 million in annual revenue that Rhode Island might not otherwise receive.

Emergency regulation on historic tax credits

The Division of Taxation today posted an Advisory about an emergency regulation involving the new historic preservation tax credit program.

The regulation offers guidance to developers and other stakeholders on how the Division of Taxation will implement the new program.

Dispute involving historic tax credit is resolved

A new Administrative Decision resolves a dispute over an expense a taxpayer claimed in relation to the historic tax credit program. (The issue focuses on the historic tax credit law that was in place prior to July 2013.)

Alcoholic beverages -- new form

The Division of Taxation has created a new form, "Alcoholic Beverage Return for Wholesalers or Manufacturers."  (Formerly, there was one form for wholesalers, another for manufacturers.)

New rates took effect July 1, 2013, which is when the new form is effective. The first due date for the return is August 10, 2013.

Historic tax credit program reopening

Rhode Island's historic tax credit program is reopening.

The Division of Taxation has posted an Advisory which includes information about the application process and other details.

There's also a new application form now online.

Wholesalers and manufacturers of alcoholic beverages

The Division of Taxation has posted a Notice for wholesalers/distributors and manufacturers of alcoholic beverages.

It sets forth changes in excise tax rates on a number of alcoholic beverages for the period July 1, 2013, through March 31, 2015. The changes are contained in the fiscal 2014 budget bill enacted this afternoon.

Summary of tax law changes

The Division of Taxation has posted a summary of tax law changes contained in the fiscal 2014 budget bill enacted this afternoon.