Rhode Island S2833 provides a tax credit for investments in local businesses with 99 or fewer employees.

Rhode Island S2833, the Rhode Island Local Investment Tax Credit Act, offers a tax credit to taxpayers who invest in qualified local businesses. A qualified business must employ 99 or fewer employees, have its headquarters and majority of employees in Rhode Island, and derive at least 80% of its gross revenues from state operations. The Rhode Island Commerce Corporation Strategic Fund certifies investments. The tax credit is 50% of the qualified investment, up to $3,000 per business per tax year. The fund will determine the conditions for a qualified investment.

Rhode Island S2833 provides a tax credit for investments in local businesses with 99 or fewer employees.

Rhode Island S2833, the Rhode Island Local Investment Tax Credit Act, offers a tax credit to taxpayers who invest in qualified local businesses. A qualified business must employ 99 or fewer employees, have its headquarters and majority of employees in Rhode Island, and derive at least 80% of its gross revenues from state operations. The Rhode Island Commerce Corporation Strategic Fund certifies investments. The tax credit is 50% of the qualified investment, up to $3,000 per business per tax year. The fund will determine the conditions for a qualified investment.