[Ritaxpronews] Rhode Island Division of Taxation -- Tax Savings for Employers

[Neil Downing]

Hi, Everyone.
 
Rhode Island Governor Lincoln D. Chafee joined Rhode Island Department of Labor and Training Director Charles J. Fogarty today in Cranston to announce repayment of the funds that the state borrowed to cover unemployment insurance (UI) benefit payments.
 
As a result of the repayment, six months earlier than scheduled, Rhode Island's 32,000 employers will save more than $50 million in taxes -- including taxes under the Federal Unemployment Tax Act (FUTA) and the state job development assessment - in 2015, and $45 million more in savings in 2016. "This is a big win for Rhode Islanders and our business community," Governor Chafee said. For more details, please click here ( http://www.ri.gov/press/view/23331 ).
 
-- 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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