Tax News
Post details: Rhode Island --Multiple Taxes: House and Senate Pass Budget Bill
06/22/07
Rhode Island --Multiple Taxes: House and Senate Pass Budget Bill
CCH (cch.taxgroup.com) reports:
S.B. 243, which was enacted as the result of the Legislature's overriding Governor Mark Sanford's veto, enacts (1) a hydrogen research credit against South Carolina corporate and personal income taxes, bank tax, corporation licensee fees, and the insurance premiums tax; (2) an economic impact zone credit against corporate and personal income taxes; and (3) a hybrid vehicle credit and a biodiesel expenditures credit against corporate and personal income taxes. The legislation also amends the existing corporate and personal income tax credits for solar energy systems, biodiesel and ethanol production, renewable fuel property, and use of methane gas from a landfill.
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