Rhode Island Film Production Tax Credit Summary
- Applicable against corporate tax, bank excise tax, insurance premiums tax, and personal income tax.
- Credit cap of $5 million (but may apply for waiver).
- May offset 100% of taxpayer’s liability.
- Credits are transferrable under specified conditions.
- Recapture upon misrepresentation, misstatement, omission, or materially inconsistent information
- Credits can be carried forward for not more than the three succeeding tax years.