Rhode Island Department of Revenue, Rhode Island Tax

Rhode Island Business Corporate Tax, Rhode Island Personal Income Tax, Rhode Island Sales Tax Rates

What is the Rhode Island Corporate net income tax rate(s)?

9% of net taxable income or $2.50 for every $10,000 of authorized capital stock, whichever is greater.

There is a minimum franchise tax payment of $500.00.

Otherwise called the Rhode Island Business Corporation Tax.

Must be paid for LLCs and S corporation elections as well as C corporations.

What is the Rhode Island personal net income tax rate(s)?

What is the average Rhode Island sales tax rate(s)?

7%

Are there standard deductions?

Single:  $5,450.00
Joint:  $9,100.00

Are there personal exemptions?

Single:   $3,500.00
Dependants:   $3,500.00

What forms do you file for your Rhode Island taxes?

C corporations:   Form AR1100CT
S Corporations:   Form RI-1120S
Partnerships:   Form RI-1065
Individual:   Form RI-1040

Estimated tax payments?

Form RI-1040-ES is filed for personal estimated taxes. Rhode Island follows the IRS standards for estimated payments. If you will owe $250.00 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won't make as much in the current year.

Rhode Island Department of Revenue:

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