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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">The Rhode Island Division of Taxation today announced several actions involving corporate tax regulations.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif">Apportionment and nexus<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">The Division of Taxation this afternoon posted, as final, regulations involving apportionment and nexus for corporate income tax purposes. The regulations help to implement sweeping changes
to the structure of the corporate income tax that were enacted in 2014 and that took effect for tax years beginning on or after January 1, 2015. The regulations will take effect January 12, 2016.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">To view the apportionment regulation, please use the following link:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><a href="http://go.usa.gov/c8NRC">http://go.usa.gov/c8NRC</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">To view the nexus regulation, please use the following link:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><a href="http://go.usa.gov/c8NRd">http://go.usa.gov/c8NRd</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif">Combined reporting<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">The Division of Taxation recently held a public hearing on a third corporate tax regulation, involving mandatory unitary combined reporting. The Division of Taxation is working on a revised
version of that regulation and anticipates a re-posting, in January 2016.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Although there are no major differences between the version presented at the recent public hearing and the revised version, there are enough differences to warrant a re-posting and a second
public hearing, said Acting Tax Administrator Neena S. Savage. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">“We believe that stakeholders will find no major differences, but we nevertheless plan to re-post the regulation and schedule a second public hearing in the interest of transparency, and
to keep everyone informed,” she said. A date for the re-posting will be publicly announced once the revised version is completed.</span><span style="font-size:10.0pt;font-family:"Verdana",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-variant:small-caps;color:#002060">Neil Downing<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#002060">Chief Revenue Agent<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#002060">Rhode Island Division of Taxation<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#002060">One Capitol Hill<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#002060">Providence R.I. 02908<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#002060"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#002060"><a href="mailto:Neil.Downing@tax.ri.gov"><span style="color:#002060">Neil.Downing@tax.ri.gov</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#002060">(401) 574-8115<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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