455 R.I. Code R. 455-RICR-00-00-3.2
Current through November 7, 2024
The purpose of these regulations is to provide for a 10 Percent Investment Tax Credit, which may be applied toward the Rhode Island business corporation tax and the personal income tax. The credit is available to employers classified in manufacturing, wholesale trade, finance, insurance, real estate and selected service industries. To be eligible for the credit, the employer must be paying above average wages or investing significantly in employee training. In addition, more than half of the revenue of non-manufacturing firms must come from out of state sales or sales to the federal government.
455 R.I. Code R. 455-RICR-00-00-3.2