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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateRhode Island
Effected JurisdictionRhode Island
Jurisdiction type: State
Fiscal year ending In2022
Program nameQualified Jobs Incentive Tax Credit
Program purpose: Job Creation/Retention
Statutory authority: Rhode Island Qualified Jobs Incentive Act of 2015 (RIGL Title 44-48.3)
Abating jurisdiction(s): State of Rhode Island
Applicable taxesBusiness Corporation Tax; Public Service Corporation Tax; Financial Institutions Tax; Insurance Companies Tax; Personal Income Tax
Method of abatement: Tax Credit
Provisions for recapture: If the Applicant ceases operations in the State or transfers more than 50% of the jobs for which a Tax Credit was granted under the Act to another state, the Tax Credit shall cease, and the Applicant shall be liable to the State for, at a minimum, 20% of all tax benefits granted to the Applicant.
Gross revenue loss: $293,000
Reimbursement / offset: $0
Net revenue loss: $293,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://controller.admin.ri.gov/sites/g/files/xkgbur621/files/2023-01/AC...