[Ritaxpronews] Rhode Island Division of Taxation -- Section 179 limits

[Neil Downing]

Good morning.
 
Rhode Island Tax Administrator David M. Sullivan today issued a reminder to tax practitioners and others that the new federal limits involving the Section 179 deduction for business assets also apply, automatically, for Rhode Island tax purposes. 
 
That is because of legislation that was approved by the General Assembly and signed into law by Governor Lincoln D. Chafee in July 2013, linking federal and Rhode Island law for purposes of Section 179 expensing.
 
Please see the latest Division of Taxation Advisory:
 
http://go.usa.gov/Mzv4
 
Thank you.
 
-- 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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