The Jobs Development Act (Rhode Island)
Last modified on February 12, 2015.
|Name||The Jobs Development Act (Rhode Island)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Program Administrator||Rhode Island Economic Development Corporation|
| Last Substantive Modification
The Jobs Development Act provides an incremental reduction in the corporate income tax rate (9%) to companies creating jobs in Rhode Island. For every ten new jobs created for companies with fewer than 100 employees, companies can reduce the tax by a quarter percentage point. For companies with more than 100 employees, a quarter percentage point can be deducted for every fifty new jobs created. The tax may be reduced to as low as 3%.
|Department||Rhode Island Economic Development Corporation|
|Division||Rhode Island Division of Taxation, Corporate Tax Division|
|Address||315 Iron Horse Way, Suite 101, Providence, RI, 02908|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Rhode Island General Law 42-64.5|