Rhode Island S2539 phases in modifications to federal adjusted gross income for social security income over four years, starting January 1, 2027.
Rhode Island S2539 introduces a gradual phase-in of modifications to federal adjusted gross income for social security income. Starting January 1, 2027, individuals can subtract 25% of their social security income from their federal adjusted gross income. This percentage increases annually: 50% in 2028, 75% in 2029, and 100% in 2030. The bill also includes adjustments for inflation and modifies taxable retirement income from certain pension plans or annuities. The changes will take effect upon passage.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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