Rhode Island Net Operating Loss Deduction

NET OPERATING LOSS DEDUCTIONS The Rhode Island Personal Income Tax law relating to Net Operating Loss deduction (NOL) has been amended by enactment of RIGL §44-30-2.8 and RIGL §44-30-87.1. Under the provisions of RIGL §44-30-87.1, for losses incurred for taxable years beginning on or after January 1, 2002, an NOL deduction may not be carried back for Rhode Island personal income [...]

Rhode Island Forms

Rhode Island Forms may be obtained by: Visiting the division of taxations website, http://www.tax.ri.gov or Calling the division of taxation's forms request line at [...]

Montana Underpayment Penalty

Interest on Underpayment of Estimated Taxes. You are required to pay your income tax liability throughout the year. You can make your payments through employer withholding, installment payments of estimated taxes, or a combination of both. If you did not pay in advance at least 90% of your income tax liability (after applying your credits) or 100% of your prior year income tax liability (after [...]

Contractors Gross Receipts Tax Credit

Contractors Gross Receipts Tax Credit You can claim a credit against your income tax liability for the public contractor’s gross receipts tax that your business has paid, or has been withheld and remitted on your behalf, throughout the year. The amount of credit cannot exceed your tax liability, and any credit balance remaining can be carried forward for up to five subsequent years. If [...]

Montana Alternative Energy Production Credit

Alternative Energy Production Credit. You can claim a credit against your income tax liability for an investment of $5,000 or more that your business makes in depreciable property for the use of a commercial system or a net metering system that is located in Montana and that generates energy by means of an alternative renewable energy source. The amount of your credit is limited to 35% of the [...]