Monday, January 27, 2014
Proposed reg on certain tobacco products
The Division of Taxation this morning posted a proposed regulation about the tax treatment of tobacco products other than cigarettes. A public hearing is scheduled for February 26 at 9:30 a.m. Click here for details.
Wednesday, January 22, 2014
Public comments on tax credit regulation
Public comments on the Rhode Island Division of Taxation's proposed regulation involving historic preservation tax credits may be submitted on or before Monday, January 27, 2014.
The agency held a public hearing this morning on the proposed regulation. Among those attending was Raymond Way, of East Coast Property Group (pictured below).
To provide an opportunity for those who could not attend due to the storm, the agency will hold open the public comment period until the close of business on Monday. (The public comment period had been scheduled to close today.) Comments on the proposed regulation may be submitted to: Michael Canole, Rhode Island Division of Taxation, One Capitol Hill, Providence, R.I. 02908, or e-mailed to: Michael.Canole@tax.ri.gov.
The agency held a public hearing this morning on the proposed regulation. Among those attending was Raymond Way, of East Coast Property Group (pictured below).
To provide an opportunity for those who could not attend due to the storm, the agency will hold open the public comment period until the close of business on Monday. (The public comment period had been scheduled to close today.) Comments on the proposed regulation may be submitted to: Michael Canole, Rhode Island Division of Taxation, One Capitol Hill, Providence, R.I. 02908, or e-mailed to: Michael.Canole@tax.ri.gov.
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| Raymond Way, of East Coast Property Group |
Tuesday, January 21, 2014
Public hearing still set on historic tax credits
The Rhode Island Division of Taxation still plans to hold a public hearing tomorrow as scheduled on a proposed regulation involving historic preservation tax credits.
The public hearing is to start at 9:00 a.m. on Wednesday, January 22, 2014, at the Rhode Island Division of Taxation, One Capitol Hill, Providence. If there is a change to that schedule, the Division of Taxation will post it on this blog.
Those unable to attend the hearing may submit written comments concerning the proposed regulation at any time on Wednesday to Michael Canole, Rhode Island Division of Taxation, One Capitol Hill, Providence, R.I. 02908, or e-mail him at: Michael.Canole@tax.ri.gov.
The public hearing is to start at 9:00 a.m. on Wednesday, January 22, 2014, at the Rhode Island Division of Taxation, One Capitol Hill, Providence. If there is a change to that schedule, the Division of Taxation will post it on this blog.
Those unable to attend the hearing may submit written comments concerning the proposed regulation at any time on Wednesday to Michael Canole, Rhode Island Division of Taxation, One Capitol Hill, Providence, R.I. 02908, or e-mail him at: Michael.Canole@tax.ri.gov.
Wednesday, January 15, 2014
Filing season for business begins
The Rhode Island Division of Taxation today began accepting and processing business tax returns covering tax year 2013 on Form RI-1120C for businesses organized as C corporations, Form RI-1120S for businesses organized as subchapter S corporations, and Form RI-1065 for limited liability companies (LLCs), limited partnerships (LPs), limited liability partnerships (LLPs), general partnerships, and single-member limited liability companies (SMLLCs).
Rhode Island Tax Administrator David M. Sullivan urged preparers and businesses to file electronically: e-filing is faster, more efficient, results in fewer errors, and typically generates refunds more quickly.
Sullivan also reminded taxpayers and preparers that Rhode Island began enforcing the state’s corporate e-file mandate effective January 1, 2013. The mandate generally applies to returns filed on Form RI-1120C, Form RI-1120S, and Form RI-1065 by paid preparers.
Sullivan also reminded taxpayers and preparers that Rhode Island began enforcing the state’s corporate e-file mandate effective January 1, 2013. The mandate generally applies to returns filed on Form RI-1120C, Form RI-1120S, and Form RI-1065 by paid preparers.
Rhode Island Tax Administrator David M. Sullivan urged preparers and businesses to file electronically: e-filing is faster, more efficient, results in fewer errors, and typically generates refunds more quickly.
Sullivan also reminded taxpayers and preparers that Rhode Island began enforcing the state’s corporate e-file mandate effective January 1, 2013. The mandate generally applies to returns filed on Form RI-1120C, Form RI-1120S, and Form RI-1065 by paid preparers.
Sullivan also reminded taxpayers and preparers that Rhode Island began enforcing the state’s corporate e-file mandate effective January 1, 2013. The mandate generally applies to returns filed on Form RI-1120C, Form RI-1120S, and Form RI-1065 by paid preparers.
Tax deadline tonight
Tonight is the deadline for making fourth-quarter payments of estimated personal income tax.
Payment must be made or postmarked by 11:59 p.m. on Wednesday, January 15, 2014. If you don’t have pre-printed estimated tax coupons, blank copies are available on the Division of Taxation website. Click here for a copy.
January 15, 2014, is also the deadline for fourth-quarter estimated payments of income tax for 2013 calendar-year fiduciary filers (involving estates and trusts), pass-through withholding filers, and composite return filers.
January 15, 2014, is also the reporting deadline for those subject to the bank deposits tax.
Thursday, January 9, 2014
Latest issue of newsletter now available
The latest issue of the Rhode Island Division of Taxation's quarterly
newsletter has just been posted.
In this issue:
- What's new for filing season
- What's new for tax year 2014
- Tax Administrator elected FTA president
- New chief of investigations
- Unemployment insurance tax changes
- "Legal Corner" feature
- "Practitioners' Corner" feature
Friday, January 3, 2014
More details posted on historic tax credit projects
The Division of Taxation today disclosed details about more projects involving the state's historic preservation tax credit program.
Once a developer signs a contract with the agency for historic tax credits, details of the contract become public information. The Division of Taxation posts the details on a special section of its website in keeping with the transparency requirements of the law.
The online section now has information on six projects - including one posted yesterday and two today. (One of the contracts posted today involves $4 million in credits -- the largest amount yet.)
Once a developer signs a contract with the agency for historic tax credits, details of the contract become public information. The Division of Taxation posts the details on a special section of its website in keeping with the transparency requirements of the law.
The online section now has information on six projects - including one posted yesterday and two today. (One of the contracts posted today involves $4 million in credits -- the largest amount yet.)
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