TAX NEWS - JUNE 2010

Rhode Island Tax: Rhode Island Lawmakers Pass Changes to Income Tax Structure

04 June 2010 -- Rhode Island lawmakers have approved changes to the state's income tax structure, including lowering the top tax rate from 9.9 percent to 5.99 percent.

Both the Senate and the House of Representatives on Friday passed bills making the change become effective in January 2011.

Republican Gov. Don Carcieri (kuh-CHEHR'-ee) signaled support for the bill, telling The Providence Journal that the measure is "extraordinary positive" and will make Rhode Island more attractive for businesses and more competitive with other states.

Other elements of the legislation include lowering the number of tax brackets and reducing the number of tax credits.