State program
Rhode Island Credit for Qualified Research Expenses
One of the highest headline state credit rates in the country, with a very long carryforward.
Program Overview
Rhode Island offers a headline rate that ranks among the highest of any state, applied to the increase in qualified research expenses conducted in Rhode Island over a base amount, with a reduced rate on spending above a threshold. The credit is non-refundable and limited to a share of liability in any given year, but the extended carryforward means credits are rarely wasted. Rhode Island also offers a separate credit for qualified research and development property.
Eligibility
Corporations and other taxpayers with qualified research expenses for research conducted in Rhode Island under IRC Section 41 definitions.
Benefits
Non-refundable credit limited to a percentage of Rhode Island tax liability each year.
Schedule a Teleconference
A scoping conversation clarifies exposure, open IDRs, and whether readiness or active defense is the priority.