Statistics of income

The Rhode Island Division of Taxation has posted on its website two Statistics of Income (SOI) reports. Both cover the personal income tax for the 2017 tax year. One focuses on residents, the other on nonresidents. (See screenshot below.)

The reports draw on figures contained in tax returns filed with the Division of Taxation. The reports do not disclose confidential taxpayer information. Rather, they provide aggregate data for a given tax type. To view these and other reports, click here.

Employer withholding tax -- changes coming

The Rhode Island Division of Taxation has posted an Advisory about changes involving employer withholding tax for the 2020 calendar year. The Advisory includes information about the following topics:

• Frequencies for submitting payments
• Filing quarterly returns
• Electronic filing/payment mandate
• Methods for remitting electronically
• Timely deposits for withheld tax

For more information, click here.

Fourth-quarter newsletter posted

The Rhode Island Division of Taxation has posted the fourth-quarter issue of its newsletter. Among the topics:

• New laws now in effect
• Seminar for tax preparers
• New chief
• "'Legal Corner" feature
• "Practitioners' Corner" feature

To view or download a copy, click here, or use the following link: https://go.usa.gov/xp34r.

Latest issue of newsletter

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

• Remote seller law
• Tax-related legislation
• New chief appointed
• New statutes of limitation
• Help for local retailers from Streamlined

This issue also includes regular features, including “Practitioners’ Corner” and “Legal Corner”. To view a copy, please click here, 

Extended due date is October 15

The Division of Taxation reminds taxpayers that October 15, 2019, is the deadline for those filing on extension. For more information, click here.

Wavemaker applications now being accepted

Applications for another round of the Wavemaker Fellowship program will be accepted by the Rhode Island Commerce Corporation through November 1, 2019.

In general, the Wavemaker Fellowship program provides a financial incentive for college graduates who are pursuing a career or starting a business in Rhode Island in technology, engineering, design, or certain other key sectors. The incentive, in the form of a tax credit, is intended to help defray the cost of student loan payments. 

• For an at-a-glance summary of the program, click here. For details about how the program works, how to apply, the list of required documents to be submitted with the application, and FAQs, click here. (Note: the application must be done in one sitting, so an applicant should gather all necessary uploads ahead of time.)

Interest rates set

The Rhode Island Division of Taxation has posted the interest rates for 2020 on underpayments and overpayments. For more information, click here.

Statistics of income

The Rhode Island Division of Taxation has posted on its website two Statistics of Income (SOI) reports. Both cover the personal income tax for the 2016 tax year. One focuses on residents, the other on nonresidents. 

The reports draw on figures contained in tax returns filed with the Division of Taxation. The reports do not disclose confidential taxpayer information. Rather, they provide aggregate data for a given tax type. The website also includes corporate income tax statistical data for the 2016 tax year. To view these and other reports, click here.

Report on tax credits and incentives

The Division of Taxation has posted on its website the latest annual report on tax credits and incentives administered in conjunction with the Rhode Island Commerce Corporation.

The latest report identifies, by name, three businesses that received a combined total of approximately $1.15 million in certain state tax credits and incentives for the fiscal year that ended June 30, 2019. To view the report, click here.

Wavemaker program

Rhode Island Governor Gina M. Raimondo and the Rhode Island Commerce Corporation recently announced that the recipients of the fourth round of Wavemaker Fellowship awards have been selected.

Through a competitive review process, a total of 153 college graduates who work in the science, technology, engineering, mathematics, and design fields in Rhode Island were chosen to receive the award. The award is a tax credit intended to defray the cost of student loans for a minimum of two years. For more information, click here.