Rhode Island S3018 allows a modification for up to $50,000 of individual retirement account income in federal adjusted gross income, provided the.

Rhode Island S3018 amends the state's personal income tax law to allow a modification for up to $50,000 of individual retirement account income included in federal adjusted gross income for the taxable year. This modification is applicable only if the individual has no income from pensions. The bill specifies that the modification is intended to affect taxpayers with individual retirement accounts but no pension income, potentially reducing their taxable income in Rhode Island. This act would take effect upon passage.

Rhode Island S3018 allows a modification for up to $50,000 of individual retirement account income in federal adjusted gross income, provided the.

Rhode Island S3018 amends the state's personal income tax law to allow a modification for up to $50,000 of individual retirement account income included in federal adjusted gross income for the taxable year. This modification is applicable only if the individual has no income from pensions. The bill specifies that the modification is intended to affect taxpayers with individual retirement accounts but no pension income, potentially reducing their taxable income in Rhode Island. This act would take effect upon passage.