Latest tax credit disclosure report

The Division of Taxation has posted on its website its latest annual tax credit and incentive report, as required by Rhode Island statute.

The latest report identifies 20 businesses that received a combined total of $29.4 million in certain state tax credits and incentives for the fiscal year ended June 30, 2016. 

Some of those recipients also received a combined total of approximately $15.3 million in other Rhode Island tax credits and incentives, the report shows.

New scam targets tax preparers

Rhode Island Acting Tax Administrator Neena S. Savage urges tax professionals to read yesterday’s announcement from the Internal Revenue Service regarding a new phishing scam, which specifically targets tax preparers. The announcement also reviews ways to safeguard data. 

Decision on cigarette dealer's license

The latest Administrative Decision posted by the Division of Taxation looks at whether a cigarette dealer's license should be revoked. To view, click here.

New Administrative Decisions

The Division of Taxation has posted four new Administrative Decisions. All of them involve taxation of cigarettes and related products:

• 2016-17, cigarette and sales tax
• 2016-18, cigarette tax and dealer's license
• 2016-19, cigarette and sales tax
• 2016-20, cigarette tax and dealer's license

Administrative Decision on cigarette license

The latest Administrative Decision, posted today by the Division of Taxation, focuses on whether a cigarette dealer's license should be revoked.

Latest issue of newsletter

The latest issue of the Rhode Island Division of Taxation’s newsletter, posted today, includes:

• A look at some tax changes contained in recently enacted legislation.
• A review (with tables) of the new filing deadlines for business entities.
• An article about the new chief of the Division’s Excise Tax section.
• Regular features, including “Practitioners’ Corner” and “Legal Corner.”

To view a copy, please click here.

Notices on tax credit reporting, propane

The Rhode Island Division of Taxation has posted two notices:

•  Notice 2016-03 involves the reporting of tax credits and incentives.
•  Notice 2016-04 involves propane used for electricity generation.