[Ritaxpronews] Rhode Island Tax News -- proposed regulations

[Neil Downing]

Hi, Everyone.
 

The Rhode Island Division of Taxation this afternoon posted two
proposed regulations:
 
One involves single-member limited liability companies (LLCs) that are
treated as disregarded entities for federal tax purposes. Under the
proposed regulation (CT 13-14 (
http://sos.ri.gov/documents/archives/regdocs/holding/DOTAX/Limited_Liability_Companies_2.pdf
)), the entities generally would be required to obtain a federal
Employer Identification Number (EIN) in order to file their Rhode Island
return.
The other proposed regulation – CT 13-08 (
http://sos.ri.gov/documents/archives/regdocs/holding/DOTAX/Residential_Lead_Abatement_Tax_Credit_1_1.pdf
) –involves the residential lead abatement income tax credit. The
regulation would be updated to reflect current state law.

 
Both proposed regulations are on the Rhode Island Secretary of State’s
website: http://www.sos.ri.gov/ProposedRules/.
 
A public hearing on them is to be held on May 22, 2013, at 9:30 a.m. at
the Division of Taxation, One Capitol Hill, Providence, R.I.
 
- Neil
 
Neil Downing
Chief Revenue Agent
Rhode Island Division of Taxation
One Capitol Hill
Providence, R.I. 02908
 
Neil.Downing at tax.ri.gov
 
(401) 574-8115

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