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Sen. Kettle Proposes Elimination of Minimum Business Corporation Tax

Eliminating the $500 minimum would keep $23 million in the hands of local businesses that need it, says Kettle.

Senator Nicholas D. Kettle, (R-Dist. 21, Coventry, Foster, Scituate, West Greenwich) last week introduced legislation that would eliminate the $500 minimum business corporation tax.

Rhode Island annually levies a corporate income tax equal to nine percent of net income. Under current statute, corporations must pay the state at least $500, regardless of their income. Based on data from 2007, 93 percent of the state’s 50,605 corporate filers claimed the minimum tax liability. That figure only represented 18.8 percent of collections.

“It’s exactly this kind of tax that makes it difficult for businesses to afford to operate in Rhode Island,” Kettle said.

Eliminating the $500 minimum would keep $23 million in the hands of local businesses. Should the bill, 2014-S2021, be approved by the Assembly, it would take effect upon passage and would apply to the 2014 calendar year.

Kettle named the elimination of the business corporation tax as one of his top priorities for this legislative session.

harleyrider8272 January 23, 2014 at 11:54 AM
The boy wonder ( puppet for the tea-baggers) strikes again, give business a 23 million dollar deal on the backs of the rest of us! Great idea 'Nicky" so when you go thru puberty and grow up to be the man your father wanted you to be you will understand what working people are going thru. Why don't you and the rest of your friends up at the state house pay for your own health care??? Put a bill in for that and work for free!
Toxic Avenger January 23, 2014 at 12:16 PM
Harley your kidding right? Your ignorance of the business climate in RI is par for the course. Do you wear a dribble bucket to catch all that runoff?
Leave RI January 23, 2014 at 01:05 PM
I'm guessing in the realm of bad business decisions that the mullah of talibtards, Barry O'blamer would never approve of cutting taxes since it would require the taking away free cheese from his bottom feeding followers and free phoners. I'll bet he spent more taxpayer money on his husband Ru Paul's birthday party than he paid in federal tax.
Helen Wilmot January 23, 2014 at 01:07 PM
This would be a big help to many small family businesses which sometimes just break even or operate in the hole some years. Many of these are located in the towns that Sen. Kettle represents. Not really a break for big business.
Einstein January 23, 2014 at 03:42 PM
Vesparider8272... You sound like a True Union Troll. Stuff my pockets please... Screw everyone else (they don't have a Union) too bad.
mad hatter January 23, 2014 at 03:43 PM
harley again shows his level of knowledge with that comment. ill bet you $100 that he does not even understand what the minimum tax liability is. laughable...
listening January 23, 2014 at 04:21 PM
They will only make it up on the backs of the working families. A group that Kettle never represents.
harleyrider8272 January 24, 2014 at 08:57 AM
WOW I am attacked by the American Taliban...Who would have thought?? They just hate America!!
Maloderous Rex January 24, 2014 at 11:33 AM
"American Taliban" ... I've heard that somewhere before... is that a white house talking point? Was that passed down with your union thug marching orders, personalized membership card, and secret decoder ring?
Maloderous Rex January 24, 2014 at 11:38 AM
Relieving the pain of starting a small business immediately $500 in the red is fantastic idea. Are you just being knee-jerk contrary, or can you explain how in the sphincter of Hell it's "on the backs" of everyone else? The small business owner is the risk-taker, not you, bub. A minimum tax instantly punishes a small business owner before they've even produced anything. Sounds like original sin.
mad hatter January 24, 2014 at 11:43 AM
Rex, its a canned response. all questions and points of fact must be responded to in the following: "its union busting" "on the backs of the working class" "not paying their fair share" "tea bagging liars"
Maloderous Rex January 24, 2014 at 11:51 AM
Right... I forgot about their Hive-Mind.
listening January 24, 2014 at 12:25 PM
Well Rex, the State will have to get the money someplace else. What is $500 going to do? It isn't enough to hire an employee. It will just be $500 less the State will get and they will look to get it elsewhere. Please don't respond, I don't need the annoyance today.
mad hatter January 24, 2014 at 12:28 PM
hey listening, just a thought but they could maybe...... cut spending??
Maloderous Rex January 24, 2014 at 12:45 PM
Respond? Don't mind if I do. Who says the money is the states, i mean, besides Statists? It's not, it's the business owners. $500 is nothing except for: business cards, a web site, inventory, raw materials, brochures, postage, utility bills... get the drift?
listening January 24, 2014 at 12:56 PM
Hatter, maybe they can privatize. Rex, I get the drift. Do you, that is part of owning your own business. You don't decide to go into business and then cry about $500. Like I said, the $500 will come from some place. Also, the cost of doing business will be written off at tax time. Got to go. Got to get to court at 2. Don't want to miss the opening acts.
mad hatter January 24, 2014 at 12:59 PM
@listening, let us know what happened at court.
harleyrider8272 January 24, 2014 at 01:16 PM
" union thug marching orders, personalized membership card, and secret decoder ring?" Taken right from the American Taliban handbook! Nice to see you can read most of you can't. By the way I am not in a union, Just hate tea-baggers!!
harleyrider8272 January 24, 2014 at 01:37 PM
@listening see u at court, Does that picture of Kettle looks like he saying " Gee Rep Morgan I don't know if this is good idea and junk, I'll have to ask wally because that Mr Gralinski is wearing my moms cloths again!!
Maloderous Rex January 24, 2014 at 02:19 PM
@Listening - I go into business expecting to not immediately start with a $500 debt (for no reason other than existing, it's not like i NEED the state for something). Maybe they can take it from public transportation and welfare. @HarleyRider - Oh so you're a "useful idiot," then, comrade?
listening January 24, 2014 at 03:34 PM
By the way, your new BOD has big plans to fix the CCFD. Contract out the EMS and rely on neighboring districts to cover fire on a fee basis. What makes the BOD think the neighboring districts will go along with this on a permanent basis. It has already been said in court that it can't be done. Idiots. They are going to leave us in a dangerous situation. And Kettle is worried about $500 for businesses.
Iron Man January 25, 2014 at 12:25 PM
If we remove the partisan blather and the newsertainment talking points and just look at the problem, this is a good idea right now. Investing in business stimulus and job growth has got to be a priority in RI. As far as where the money comes from, I would rather invest in this than in the $350 million in bonds that Chafee proposes.
Jim Sullivan January 26, 2014 at 07:36 AM
Nick, good work as always keep it up
coventry taxpayer 2 January 26, 2014 at 02:12 PM
Did this kid come out of the closet yet?? He has nothing to be ashamed about. It's his tea-party friends that would hate him. Sad!

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