The General Assembly has passed legislation requiring Bryant University to make payments to the town of Smithfield. The university is calling the bill “heavy handed.”
Unless Smithfield and Bryant can come to an agreement, the legislation allows the town to bill the university for municipal services it uses. The non-profit university sits on some 420 acres of land that state Senator Stephen Archambault said would generate $2 million in yearly taxes.
A tax hike is on the way for Woonsocket residents. The House has passed a supplemental tax leaving home owners with additional $240 dollars a year 5 year period. The tax will help close the city’s 17 million dollar budget gap. Woonsocket City Councilman Roger Jalette says he does not support the proposal.
Monday is the deadline for filing state and federal income taxes.
The Rhode Island Division of Taxation says state returns are coming in slightly slower than last year because of last minute changes to the federal tax code. As of last week, 75 percent of Rhode Islanders had filed. That’s down about three percent from last year. However, refunds are up three percent to an average of $530.
Neil Downing, a chief revenue agent for the state Division of Taxation, said people who file late pay significant penalties.
Mike Stenhouse, CEO of the Rhode Island Center for Freedom and Prosperity, joins us on Bonus Q+A to talk about the center's mission, its proposal to eliminate the sales tax, its report card on Rhode Island's competitiveness, and other issues.
Mike Stenhouse, CEO of the Rhode Island Center for Freedom and Prosperity, joins the Roundtable this week to discuss his center's sales tax elimination plan; the debate over high-stakes testing, Woonsocket's reliance on Food Stamps, and the outlook for the 2013 Red Sox.
Woonsocket City Council President John Ward visits the Roundtable this week to talk about the outlook for fiscal stability in the northern Rhode Island community; the debate over tax policy in Rhode Island; and how to keep more young workers in the Ocean State.
Woonsocket City Council President John Ward is concerned that jobs provided by CVS Caremark Corporation could vanish if the company loses a big chunk of a state tax credit.
"Based on their reaction, I'm a little concerned," Ward said, referring to how CVS lobbyist Robert Goldberg said the company may reconsider its ties to Rhode Island if it loses part of a job development tax credit worth about $15 million a year.
Gov. Lincoln Chafee says the findings in a new report are part of the process of improving Rhode Island’s economy.
The report centers on the state’s business climate and found Rhode Island has made some progress in cutting taxes but they’re still perceived as being a potential roadblock to attracting new business. It also found gaps in funding for start ups.
Chafee says the process is part of what he calls a methodical approach his administration is using to target a better economy.