Rhode Island H8195 provides a tax credit for qualified investments in local businesses with 99 or fewer employees.

Rhode Island H8195 establishes the Rhode Island Local Investment Tax Credit Act, offering a tax credit to taxpayers who make qualified investments in local businesses employing 99 or fewer employees. The credit is equal to 50% of the investment, up to a maximum of $3,000 per tax year. To qualify, the business must meet specific criteria, including being headquartered and operating primarily within Rhode Island. The Rhode Island Commerce Corporation Strategic Fund will certify investments and issue certificates required for claiming the credit.

Rhode Island H8195 provides a tax credit for qualified investments in local businesses with 99 or fewer employees.

Rhode Island H8195 establishes the Rhode Island Local Investment Tax Credit Act, offering a tax credit to taxpayers who make qualified investments in local businesses employing 99 or fewer employees. The credit is equal to 50% of the investment, up to a maximum of $3,000 per tax year. To qualify, the business must meet specific criteria, including being headquartered and operating primarily within Rhode Island. The Rhode Island Commerce Corporation Strategic Fund will certify investments and issue certificates required for claiming the credit.