Bill > S0311

This bill imposes a 2% tax increase on personal income over $250,000, effective January 1, 2018. The key provisions are: - It amends the Rhode Island Personal Income Tax law to increase the tax rate on personal income over $250,000 by 2%, from the current rates of up to 9.9% to up to 11.99%. - This applies to all filing statuses, including single, married filing jointly, head of household, etc. - The increase only applies to the portion of taxable income over $250,000, not the entire taxable income amount. - This change takes effect for the 2018 tax year and subsequent years.

Budget and Finance