Rhode Island’s Remarkable Tax Credit Disclosure Report

Source: Citizens for Tax Justice, Tax Justice Digest, September 22, 2008

Last week, Rhode Island’s Department of Revenue Division of Taxation released a study detailing the tax credits and incentives that nearly 120 companies operating in Rhode Island received over the past year. The report is a result of recent disclosure legislation intended to reveal to the public and policymakers just how much money Rhode Island corporations receive. The release of the report is quite timely as lawmakers are coming to terms with a projected shortfall and may dip into the state’s rainy day fund. The disclosure legislation required the state “to annually report the names, address and amount of tax credits received during the previous fiscal year.”

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