According to an email from the Rhode Island Division of Taxation, the Division has announced a new and streamlined process for filing Estate Tax returns. Starting January 1, 2022, if you are the executor/executrix, administrator/administratrix, or personal representative for the estate of a decedent who passed after January 1, 2015, and are filing a taxable or a non-taxable estate return, you will need to use the new RI-706 form. There has been no statutory change or change in the administration of the Estate Tax. This update is simply to streamline the forms used to file. Read more about this update by
clicking here.
The Division has also announced the standard deduction amounts, tax bracket ranges, and other key items for the Rhode Island personal income tax for tax years beginning on or after January 1, 2022. Find the inflation-adjusted amounts set for tax year 2022 as well as changes for certain items involving 2021 tax year by clicking
here.