Business Information & Rankings
- Rhode Island is ranked the 12th Healthiest State in the nation. (Morgan Quitno, 2005)
- In a March 2004 study, the Milken Institute said Rhode Island was among the states best positioned to succeed in the information age, ranking the state 11th in the U.S.
- Rhode Island, smallest of the 50 states, is densely populated and highly industrialized.
Cost of living
|For Providence, RI (2005)||Index Score|
|Misc. Goods & Services:||113.1|
Rhode Island has the 16th lowest overall crime ranking in the U.S. (FBI, 2004)
Fees & Taxes
Business Inventory Tax
Corporate Income Tax
Rhode Island’s corporate tax structure consists of a flat rate of 9% on all corporate income.
Personal Income Tax
Rhode Island’s personal income tax system consists of a tax of 25% on the taxpayerï¿½s federal liability.
Personal Property Tax
Rhode Island is one of the 38 states that collect property taxes at both the state and local levels. Sales or transfers of intangible personal property such as stocks, bonds, accounts receivable, money or insurance policies are exempt from property tax.
State Sales and Use Tax
Base Rate: 7.0%
Machinery Rate: none
There is an exemption for tools, dies, molds, machinery and equipment to the extent used in an industrial converting, or processing tangible personal property or computer software for sale.
Rhode Island’s new employers’ rate is 1.79% for 3 years.