Businesses can apply for up to $100,000 in qualified tax credits annually through the RI Division of Taxation.
- Determine the number of years you want to give:
- 1 year – 75% tax credit
- 2 years – 90% tax credit
- Submit an application to the State of RI: Division of Taxation July 1st
- Within 30 days of the application date (July 1st), approval or denial will be granted from the Division of Taxation.
- If approved, the business will have 120 days to make the contribution to CTF.
- CTF will issue a receipt.
- Once you make your contribution, you must apply to the Division of Taxation for your tax credit certificate(s).
- Receive tax credit.