[Ritaxpronews] Rhode Island Division of Taxation -- inflation adjustments

[Downing, Neil (DOR)]

The Rhode Island Division of Taxation today posted an Advisory which includes the following:


  *   The inflation-adjusted standard deduction amounts, exemption amount, and uniform rate schedule for the personal income tax for tax years beginning on or after January 1, 2020.


  *   The inflation-adjusted income tax rate schedule for estates and trusts for tax years beginning on or after January 1, 2020.


  *   The inflation-adjusted numbers for certain personal income tax modifications for the 2019 tax year (one involving taxable income from Social Security, the other involving taxable income from 401(k) plans, pensions, annuities, and some other sources).


  *   The maximum credit allowed for the 2019 tax year under the statewide property-tax relief program (Form RI-1040H).

To view the latest Advisory, click here<http://www.tax.ri.gov/Advisory/ADV_2019_30.pdf>.

Thank you.

Neil Downing
Chief Revenue Agent
Rhode Island Division of Taxation
One Capitol Hill
Providence, R.I. 02908

Email: Neil.Downing at tax.ri.gov<mailto:Neil.Downing at tax.ri.gov>
Phone: (401) 574-8115

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