Proposed bill would eliminate tangible taxes for some businesses
WOONSOCKET – Every business in Rhode Island would be exempt from tangible personal property tax under $100,000 under a new bill introduced by Sen. ...
WOONSOCKET – Every business in Rhode Island would be exempt from tangible personal property tax under $100,000 under a new bill introduced by Sen. Melissa Murray (D-Woonsocket) and Rep. Brandon Voas (D-Cumberland). The tangible personal property tax is levied on businesses' property other than real estate, such as equipment and furniture. Each municipality sets its own tax rate. Elizabeth Catucci, president and CEO of the Rhode Island Chamber of Commerce, said communities in northern Rhode Island have some of the highest rates in the state.