Wednesday, December 30, 2015

Tax changes take effect on Friday

The Rhode Island Division of Taxation today reminded tax professionals that a number of tax changes will take effect this Friday, January 1, including:

  • A reduction in the annual corporate minimum tax;
  • A reduction in the annual filing charge for pass-through entities;
  • A tax break for many Social Security beneficiaries; and
  • An increase in the earned income credit.