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Category: Rhode Island
20 Articles
Orange arrow Rhode Island Section 179 Depreciation

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  SECTION 179 DEPRECIATION Rhode Island passed a bill disallowing the increase in the Section 179 depreciation under the Jobs & Growth Tax Relief Reconciliation Act of 2003. Section 179 depreciation will remain limited to $25,000 for Rhode Island income tax purposes. When filing your Rhode Island...
Posted in: States, Rhode Island

Orange arrow How can I amend my return?

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  AMENDED RETURNS Report any changes to your original filing on Form RI-1040, and check the Amended checkbox. Using the Supplement to Individual Income Tax Return, provide an explanation of changes to your income, deductions or credits. Attach the supplement to your amended return along with all sche...
Posted in: States, Rhode Island

Orange arrow Rhode Island Electoral System Contribution

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  ELECTORAL SYSTEM CONTRIBUTION You may designate a contribution of five dollars ($5) or ten dollars ($10) if married and filing a joint return, to the account for the public financing of the electoral system. The first two dollars ($2) or four dollars ($4) if married and filing a joint return, up t...
Posted in: States, Rhode Island

Orange arrow Rhode Island Use Tax

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  WHAT IS A USE TAX? A Use Tax is a tax on the use of tangible personal property in a state where the property has not been subject to the sales tax. Rhode Island Use Tax applies when merchandise purchased outside of Rhode Island is brought into Rhode Island. Sales and use taxes are complementary t...
Posted in: States, Rhode Island

Orange arrow How do I determine if I am a resident of Rhode Island?

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  “Resident” means an individual who is domiciled in the State of Rhode Island or an individual who maintains a permanent place of abode in RhodeIsland and spends more than 183 days of the year in Rhode Island. For purposes of the above definition, domicile is found to be a place an indi...
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Orange arrow Rhode Island Allocation of Wage and Salary Number of Days Worked

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  Non-Resident Schedule II - Part 2 - ALLOCATION OF WAGE AND SALARY INCOME TO RHODE ISLAND Wages, salaries, tips, etc from Federal Form 1040 or 1040-SR, line 1 Interest and dividends from Federal Form 1040 or 1040-SR, lines 2b and 3b Business income from Federal Form 1040 or 1040-SR, Sche...
Posted in: States, Rhode Island

Orange arrow Rhode Island Payment Options

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  How To Prepare Your Payment Make your check or money order payable to the "R.I. Division of Taxation." Do not send cash. Make sure the name and address appears on the check or money order. Write "Form RI-1040V," daytime phone number and social security number on your check or money order. Send pay...
Posted in: States, Rhode Island

Orange arrow Rhode Island Property Tax Relief Claim

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  Form RI-1040H must be filed by April 15, 2020. Even if you are seeking a filing extension for your Rhode Island income tax return, RI-1040, Form RI-1040H must be filed by April 15, 2020. An extension of time to file Form RI-1040, does NOT extend the time to file Form RI-1040H. If filing with Fo...
Posted in: States, Rhode Island

Orange arrow Rhode Island Bonus Depreciation

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  BONUS DEPRECIATION A bill passed disallowing the federal bonus depreciation for Rhode Island tax purposes. When filing a Rhode Island tax return any bonus depreciation taken for federal purposes must be added back to income as a modification on RI Schedule M - page 2, line 2d for Rhode Island purpo...
Posted in: States, Rhode Island

Orange arrow Rhode Island Net Operating Loss Deduction

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  NET OPERATING LOSS DEDUCTIONS The Rhode Island Personal Income Tax law relating to Net Operating Loss deduction (NOL) has been amended by enactment of RIGL §44-30-2.8 and RIGL §44-30-87.1. Under the provisions of RIGL §44-30-87.1, for losses incurred for taxable years beginning on ...
Posted in: States, Rhode Island

Orange arrow Rhode Island Other Modifications Increasing AGI

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  Income from obligations of any state or its political subdivisions, other than Rhode Island under RIGL §44-30-12(1) and RIGL §44-30-12(2) Rhode Island fiduciary adjustment as beneficiary of an estate or trust under RIGL §44-30-17 Recapture of Family Education Account modifications ...
Posted in: States, Rhode Island

Orange arrow Rhode Island Other Modifications Decreasing AGI

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  Income from obligations of the US government included in Federal AGI but exempt from state income taxes reduced by investment interest on the obligations taken as a federal itemized deduction. Rhode Island fiduciary adjustment as beneficiary of an estate or trust under RIGL §44-30-17 Electiv...
Posted in: States, Rhode Island

Orange arrow Rhode Island Modifications To Federal AGI

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  Modifications Decreasing Federal AGI: Income from obligations of the US government included in Federal AGI but exempt from state income taxes reduced by investment interest on the obligations taken as a federal itemized deduction. Rhode Island fiduciary adjustment as beneficiary of an estate or t...
Posted in: States, Rhode Island

Orange arrow Rhode Island Business Allocation Percentage

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  RI Schedule III - FOR NON-RESIDENTS ONLY THIS SCHEDULE IS ONLY TO BE COMPLETED BY PART-YEAR RESIDENTS. FULL YEAR NONRESIDENTS COMPLETE RI SCHEDULE II. A part-year resident is a person who changed his legal residence by moving into or out of Rhode Island at any time during the year 2019. If you ar...
Posted in: States, Rhode Island

Orange arrow Rhode Island Contributions

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  These checkoff contributions will increase your tax due or reduce your refund. All checkoff contributions are voluntary. A contribution to the following programs may be made by checking the appropriate box(es) or by entering the amount you want to contribute. All such contributions are deposited as...
Posted in: States, Rhode Island


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