2025 Regular SessionRhode Island Legislature

H5473: Creates an additional tax rate of 3% on taxable income over $625,000 in 2025 dollars. Applies to tax years 2026 and thereafter and not retroactively.

Legislative Summary

TAXATION -- PERSONAL INCOME TAX - Creates an additional tax rate of 3% on taxable income over $625,000 in 2025 dollars. Applies to tax years 2026 and thereafter and not retroactively.

Demographic Impact

Overall analysis of equity impact

70% Positive
High ConfidenceView detailed demographic breakdown ↓

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Bill History

2/12/2025
Introduced, referred to House Finance
House of Representatives
5/2/2025
Scheduled for hearing and/or consideration (05/06/2025)
House of Representatives
5/6/2025
Committee recommended measure be held for further study
House of Representatives

Status Information

Current Status
Introduced(2/12/2025)
Chamber
House of Representatives
Committee
Finance(House of Representatives)

Documents

Introduced
Bill Text2/12/2025195.0 KB