Rhode Island Research & Development Expense Tax Credit
Funds the Rhode Island Expense Credit allows corporations to claim a credit against RI corporate income tax on qualified research.
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The Rhode Island R&D Expense Credit (§ 44-32-3) allows corporations to claim a credit against RI corporate income tax on qualified research expenses incurred in Rhode Island. The credit rate is 22.5% on the first $111,111 of excess R&D expenses over the federal base period amount, and 16.9% on amounts above $111,111. The credit is non-refundable and cannot reduce the taxpayer's liability below the…
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