R.I.'s lower minimum corporate tax drops it from N.E.'s highest

PROVIDENCE, R.I. — For the tax year beginning Jan. 1, Rhode Island companies no longer face the highest tax owed in New England for their annual minimum corporate taxes. The Rhode Island rate will drop from $500 to $450 for the 2016 tax year — a reduction debated by political leaders since at least 2009 and enacted this past legislative session. The new rate applies to entities treated as C corporations for federal income tax purposes and as pass-through entities, [...]