Manufacturing Investment Tax Credit (4%)
A manufacturer is allowed a 4% tax credit against the Rhode Island corporate income tax and the personal income tax on buildings and structural components, as well as machinery and equipment, which are owned or leased and are principally used in the production process (including storage). Property principally used for administration and distribution purposes is not eligible. The investment tax credit may not reduce the taxpayerís liability below the minimum business tax. Unused credits may be carried forward for up to seven (7) years.
Jean Robertson