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)
