Report Inappropriate Comments

Many small companies file/use the "S" corporation or LLC method of filing/reporting their activity; they pay the minimum tax of $ 500. The corporate income tax reduction of 2% basically benefits corporation's filing/reporting using the"C" corporation filing status. The single sales factor apportionment method will likely not be a "game changer". "C" corporations operating in multiple states will have their entire sales subject under RI's apportionment method as well as "C" corporations operating solely within RI. As far as investment in property/equipment & payroll, companies will make the necessary investment & increase workforce generally based on need. Basically, what RI has done is make it more tax friendly for larger companies(CVS, etc.) who can use available RI workforce credits & investment tax credits in addition to the corporate income tax reduction to improve their bottom lines(profits)

Businesses need overall tax relief; income, property tax, & regulatory. What the RI GA did will help minimally but it won't have out of state businesses take notice & want to relocate here.