Personal Income Tax Reform of 2010
Beginning January 2011, Rhode Island's personal income tax structure has been modified to lower the personal income tax rates in the state. Highlights of the new legislation:
- Reduces the number of tax brackets from five to three
- Lowers the top tax bracket from 9.99% to 5.99%
- Increases standard deductions for taxpayers to between $7,500 and $15,000 with personal and dependant exemptions equal to $3,500
FOR MORE INFORMATION FOLLOW THESE WEB LINKS:
- RI Division of Taxation: http://www.tax.state.ri.us/taxforms/
- RI General Law: http://www.rilin.state.ri.us/Statutes/TITLE44/44-30/INDEX.HTM