Estate tax threshold for 2014

The Division of Taxation today set the Rhode Island estate tax threshold for 2014, as adjusted for inflation. In general, an estate valued below the threshold amount will not be subject to the tax. Please click here for the announcement.

Employer tax deadline tomorrow night

Tomorrow night is the deadline for employers to file their third wage and tax report for 2013 and pay the tax due.

About 32,000 employers have until midnight on October 31, 2013, to file and pay their state unemployment insurance tax (also known as the employment security, or ES, tax) and job development fund tax, and to file and remit the amount of Rhode Island temporary disability insurance (TDI) tax withheld from employees’ wages. For more information, please click here.

Hearing on sales tax break for statewide arts district

The Division of Taxation held a public hearing today (Thursday, October 24, 2013) on a proposed regulation to implement a sales tax exemption for the new statewide arts district.

Randall Rosenbaum (pictured below), executive director of the Rhode Island State Council on the Arts, testified at the hearing, which was held at One Capitol Hill (the Powers Building) in Providence.

Randall Rosenbaum, executive director of the
Rhode Island State Council on the Arts

Public hearing tomorrow on sales tax regulation

The Division of Taxation will hold a public hearing tomorrow (Thursday) on a proposed regulation implementing a sales tax exemption for the new statewide arts district.

The hearing will be at 9:30 a.m. at One Capitol Hill (the Powers Building) in Providence, near the State House in Providence. Click here for more details.

Hearing held on film tax credit regulation

A public hearing was held on Tuesday, October 22, 2013, on a proposed regulation drafted by the Rhode Island Division of Taxation in conjunction with the Rhode Island Film and Television Office. The regulation is intended to reflect changes in state law involving the motion picture production tax credit (sometimes called the film tax credit).

At the hearing, held at One Capitol Hill (the Powers Building) in Providence, a panel of state officials took testimony from David C. Morganelli (pictured below), a lawyer and CPA. Morganelli is a partner with the law firm of Partridge Snow & Hahn LLP, who chairs the firm's Tax Group. He also chairs the Rhode Island Society of Certified Public Accountants' Federal & State Taxation Committee.

David C. Morganelli, attorney and CPA

Public hearing tomorrow involves film tax credit

The Division of Taxation will hold a public hearing tomorrow (Tuesday) on a proposed regulation which would refect changes in state law involving the motion picture production tax credit (sometimes called the film tax credit).

The hearing will be held at 9:30 a.m. on Tuesday, October 22, 2013, at One Capitol Hill (the Powers Building) in Providence, near the State House. Click here for more details.

Interest rates on underpayments, overpayments for 2014

The Rhode Island Division of Taxation today posted the interest rates that will apply in 2014 on overpayments and delinquencies. The rates are the same as those that applied for 2013:

• The rate on delinquent tax payments will be 18 percent per annum for calendar year 2014.
• Interest on overpayments for calendar year 2014 will be at the rate of 3.25 percent per annum.

Filing deadline is Tuesday

If you still haven't filed your Rhode Island personal income tax return for 2012, this holiday weekend is a good time to get it done. The deadline is Tuesday, October 15. The Rhode Island Division of Taxation posted an Advisory today with details about the tax-filing deadline as well as other tax news. To view it, click here.

Latest newsletter now available

The Rhode Island Division of Taxation has posted the latest issue of its quarterly newsletter, "Rhode Island Tax News."  Topics include:

• the new Special Investigations Unit; 
• a project to revise all tax forms; 
• a revised deadline involving historic preservation tax credits; 
• an upcoming seminar for tax preparers; 
• a sales tax exemption for the new statewide arts district; 
• a new chief of E-Government; and 
• regular features, such as Practitioners' Corner and Legal Corner.