Incentives report posted

The Rhode Island Division of Taxation yesterday posted its annual report of tax credits and incentives administered in conjunction with the Rhode Island Commerce Corporation. The two-page report, for the fiscal year ended June 30, 2016, shows the aggregate number of credits and incentives approved by the Commerce Corporation. However, given that the credit and incentive programs are so new, none of the credits or incentives were issued for the fiscal year by the Division of Taxation, the report shows.

Reminder: Computer conversion coming up

The third phase of the Rhode Island Division of Taxation’s changeover to a new agency-wide computer system will start on November 7, 2016, and continue through November 14, 2016. 

The Division of Taxation, at One Capitol Hill in Providence, will remain open during normal business hours while the computer system conversion occurs, and many services will continue to be available. For example, the agency’s website and email system will remain fully functional, payments will be received, and electronically filed tax returns will be received and acknowledged. 

However, a number of services will not be available during the conversion. For example, the Division will be unable to issue letters of good standing, unable to release license and registration blocks, and unable to check on a taxpayer’s account balance. Taxpayers and tax practitioners should plan ahead. For example, if someone is blocked from renewing a driver’s license, professional license, or motor vehicle registration because that person owes back taxes, that person should pay the tax debt before the conversion period starts. (For best results, make payment by close of business on November 3.) For more about the conversion, please click here.

New form to file involving motor vehicle use tax

If use tax is paid at the Rhode Island Division of Taxation office on behalf of a purchaser, Form T-205, "Consumer's Use Tax Return," must be filed at the same time (in addition to other required paperwork), the agency announced on October 25. 

• The requirement to file Form T-205 on behalf of a motor vehicle purchaser is effective on or after November 1, 2016.
• The requirement does not apply when use tax is paid at the Division of Motor Vehicles on behalf of a motor vehicle purchaser.
• The requirement does not apply when use tax is paid by a motor vehicle dealer online on behalf of a motor vehicle purchaser.

Interest rates; filing deadline; service announcement

Interest rates

The Rhode Island Division of Taxation today posted the interest rate on delinquent tax payments and the interest rate on overpayments for calendar year 2017. To learn more, click here.

Filing deadline

The Division of Taxation reminds tax professionals and taxpayers of tonight's filing deadline. (The extended due date is normally October 15, but that date fell on a weekend this year, so the deadline had moved to October 17.) For more information, click here.

Service announcement

The Division of Taxation reminds tax professionals and taxpayers that the next phase of the Division of Taxation’s changeover to a new agency-wide computer system will start on November 7, 2016, and continue through November 14, 2016. The Division of Taxation, at One Capitol Hill in Providence, will remain open during normal business hours while the computer system conversion occurs, and many services will continue to be available, but some will not. All services resume on November 15, 2016. Click here for more details.

Payments by credit card, debit card

Taxpayers may now use their credit cards or debit cards to pay their Rhode Island personal income tax online, through the Rhode Island Division of Taxation website.

The system will accept credit cards and most debit cards and can be used for payments of the following taxes:

• personal income tax
• corporate income tax
• sales and use tax
• withholding 

For more information, including details about fees, click here.

Audit of gas station convenience store

The Division of Taxation's latest Administrative Decision focuses on a sales audit of a gas station convenience store. To read more, click here.

Filing deadline; computer conversion

The Rhode Island Division of Taxation reminds tax professionals and taxpayers that Monday – October 17 – is the deadline for filing Rhode Island resident and nonresident personal income tax returns for the 2015 tax year.

The Division also issued a reminder about the third phase of its computer conversion, which will start on November 7, 2016, and continue through November 14, 2016. During that period, the Division will remain open on normal business days, but some services will not be available.

To view today's Advisory, click here.