The Jobs Development Act (Rhode Island)

From Open Energy Information


Last modified on February 12, 2015.

EZFeed Policy

Place Rhode Island



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
Active Policy Yes
Implementing Sector State/Province














Program Administrator Rhode Island Economic Development Corporation
Primary Website http://riedc.com/business-services/business-incentives/corporate-income-tax-reduction-for-job-creation


Last Review 2014-05-30
Last Substantive Modification
to Summary
2014-05-30
Information Source http://www.commerceri.com/documents/finance/incentives/Jobs%20Development%20Act.pdf


Summary

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%.


Policy Contact

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


Phone 401-222-1120
Fax 401-273-8270
Email info@riedc.com
Website http://riedc.com/business-services/business-incentives/corporate-income-tax-reduction-for-job-creation


Authorities (Please contact the if there are any file problems.)

Authority 1: Rhode Island General Law 42-64.5
Date Effective 2004

















References