AN ACT RELATING TO TAXATION -- PERSONAL INCOME TAX

Summary

Beginning with tax year 2027, Rhode Island residents who file a state personal income tax return can claim a $650 credit for each child 18 or younger. Taxpayers with adjusted gross income above $261,000 see the credit reduced by 20 % for each $7,450 (or fraction) over that threshold. The credit amount is adjusted each year for inflation using the CPI and rounded down to the nearest $5.

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