Film tax credit: public hearing on regulation

The Rhode Island Division of Taxation plans to hold a public hearing on January 3, 2018, on proposed changes to its regulation involving the motion picture production tax credit (also known as the film tax credit).

Among other things, the Division would:

• add a requirement that costs be arms-length transactions to qualify as costs for purposes of the credit;
• delete video games from the definition of a motion picture;
• adjust the language involving the sunset provision; and
• change the regulation's format so that it complies with the Rhode Island Code of Regulations, a uniform state code.

The proposed regulation is being jointly promulgated by the Rhode Island Division of Taxation and the Rhode Island Film and Television Office. For more information on the regulation and the public hearing, click here.

New email scam targets Hotmail

The Internal Revenue Service today warned taxpayers and tax professionals about a new email scam that targets Hotmail users. The scam is being used to steal personal and financial information. For more information, click here. 

New reservation system for amnesty

The Rhode Island Division of Taxation has launched an online reservation system for taxpayers who want to make appointments involving Rhode Island’s new state tax amnesty program. For more information, click here.

Latest round of regulations

The Rhode Island Division of Taxation has posted, as final, 19 regulations with the Rhode Island Department of State (Secretary of State).

The posting is part of the Division's months-long effort to streamline and re-codify its regulations. In the latest actions:

• Seventeen regulations involving motor vehicles were repealed.
• Substantially all of the contents of the repealed regulations mentioned above were consolidated into a single, new regulation.
• An existing regulation -- involving optional service, maintenance, and extended warranty contracts -- was reformatted to be presented in the new Rhode Island Code of Regulations format. 

The latest Division regulations, including repeals, are all effective December 21, 2017, and are available on the Department of State website (see screenshot below).

Tax administrator on radio to promote amnesty

Rhode Island Tax Administrator Neena Savage visited radio station WPRO (AM 630) this morning to highlight the state tax amnesty program, which began its first full week today. She was interviewed on "The News with Gene Valicenti" show and discussed the details of tax amnesty, as well as other topics.

WPRO host Gene Valicenti interviews Tax Administrator Neena Savage

Tax seminar held at CCRI

Nearly 100 tax preparers attended the Rhode Island Division of Taxation's "Seminar for Tax Preparers" held on Friday, December 1, at the Community College of Rhode Island's Knight Campus in Warwick. Topics included what's new for the coming filing season and what's new for the coming tax year.

Small businesses warned about ID theft

The Rhode Island Division of Taxation, the Internal Revenue Service, and other Security Summit partners warned small businesses today to be on guard against a growing wave of identity theft against employers. To learn more, click here.