Rhode Island Code of Regulations
Title 280 - Department of Revenue
Chapter 20 - Division of Taxation
Subchapter 25 - Business Corporation Tax
Part 10 - Combined Reporting (280-RICR-20-25-10)
Section 280-RICR-20-25-10.15 - Tax Rate

Universal Citation: 280 RI Code of Rules 20 25 10.15

Current through September 18, 2024

A. For tax year 2014, corporations pay either the Rhode Island corporate income tax or the Rhode Island franchise tax, whichever is higher.

B. For tax year 2014, the corporate income tax rate is nine percent (9%); the franchise tax is equal to $2.50 per $10,000 of a corporation's authorized capital stock.

C. For tax year 2015, the corporate income tax rate is seven percent (7.0%) and the franchise tax is repealed. Thus, for tax year 2015, the maximum corporate income tax rate for a combined group engaged in a unitary business is seven percent (7.0%).

D. For additional information on the application of the minimum tax with respect to combined groups, please see § 10.12 of this Part.

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