Rhode Island R&D Tax Credit Summary

R&D Tax Credit Available

Yes

STATE

Rhode Island

NAME

Research & Development Expense Credit

DOES IT APPLY TO C-CORPS & PASS THROUGHS?

C Corps only

DESCRIPTION

Nonrefundable credit with similar definition to federal for Qualified Research Expenses and Qualified Research Activities, except only include Rhode Island-based expenses.

PERCENTAGE

22.5% on incremental expenses up to $111,111 and 16.9% on expenses over $111,111.