2025 Regular SessionRhode Island Legislature

S0329: 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

80% Positive
High ConfidenceView detailed demographic breakdown ↓

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Bill History

2/21/2025
Introduced, referred to Senate Finance
Senate
5/23/2025
Scheduled for hearing and/or consideration (05/29/2025)
Senate
5/29/2025
Committee recommended measure be held for further study
Senate

Status Information

Current Status
Introduced(2/21/2025)
Chamber
Senate
Committee
Finance(Senate)

Documents

Introduced
Bill Text2/21/2025195.1 KB