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.

State: 
Rhode Island
Reporting Jurisdiction: 
Rhode Island
Jurisdiction type
State
Fiscal year ending In: 
2020
Program name: 
Qualified 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 taxes: 
Business 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
$96,000
Reimbursement / offset
$0
Net revenue loss
$96,000
Type of loss
Active
Additional notes on dislosure: 
(none)