Wavemaker open for applications

Rhode Island Governor Gina M. Raimondo and the Rhode Island Commerce Corporation today announced the reopening of applications for the Wavemaker Fellowship program.

The Wavemaker Fellowship is available to graduates who have incurred student loan debt during the completion of an associate degree, bachelor's degree, or graduate degree, and are pursuing careers in science, technology, engineering, mathematics, or design-related fields -- including life, natural or environmental sciences; computer, information or software technology; advanced mathematics or finance; engineering; industrial design or other commercially related design field; or medical or medical device technology in the state.

Any resident or nonresident with higher education loan debt who is employed in Rhode Island in one of the fields mentioned above is encouraged to apply. The maximum annual credit is $6,000 for graduate degree holders, $4,000 for bachelor's degree holders, and $1,000 for holders of an associate degree.To read today's announcement, click here. For more details on the program, click here.

Ruling involving sales tax

The Rhode Island Division of Taxation's latest Declaratory Ruling looks at whether certain components used in renewable energy products are exempt from Rhode Island sales and use tax. To view Declaratory Ruling 2019-02, click here.

GILTI and FDII

The Rhode Island Division of Taxation reminds tax preparers and taxpayers that, from a state tax standpoint, Rhode Island is following federal treatment for purposes of Global Intangible Low-Taxed Income (GILTI) and Foreign-Derived Intangible Income (FDII).

Those with questions may contact the Division's Corporate Income Tax unit at (401) 574-8935. The line is typically staffed from 8:30 a.m. to 3:30 p.m. business days.

Deadline is tonight for filings, payments

The Rhode Island Division of Taxation reminds tax preparers and taxpayers that the deadline is tonight for personal income tax returns and payments. It is also the deadline for some business entities. Click here for more details, including tips for last-minute filers.

Rhode Island's Free File program

Rhode Island's Free File program lets eligible taxpayers prepare and file their federal and Rhode Island personal income tax returns online at no charge. Click here for more information.

Security Summit reports progress

The Internal Revenue Service, the Rhode Island Division of Taxation, and other partners in the Security Summit have announced new results from 2018 that show progress in the fight against tax-related identity theft.

But the Security Summit also said that its efforts will continue as criminals, working online, evolve and adjust tactics. Click here to learn more.

Filing deadline

The Rhode Island Division of Taxation reminds taxpayers and tax preparers that the deadline for personal income tax returns is April 15, 2019.

That is also the filing deadline for certain business entities and others. To learn more, click here.

Newsletter now available

The Rhode Island Division of Taxation today posted the latest issue of its newsletter. Among the topics:

• The new law involving remote sellers.
• Tips for last-minute tax filers.
• The 10-day rule involving software updates.
• TDI tax refunds.
• Rhode Island’s Free File program.