Rhode Island Tax Div. Issues Advisory on Pass-Through Income Tax Form Changes, Procedural Updates

The Rhode Island Division of Taxation March 7 issued an advisory on pass-through tax form changes and procedural updates for individual income, trust income, and withholding tax purposes. The advisory provides that: 1) Schedule PTW or Schedule PTW-1041 will replace the discontinued form RI-1096PT for 2023 as part of the phase-out of the RI-1096PT form series; 2) all pass-through entities conducting business in Rhode Island or earning income from Rhode Island sources must pay income tax on behalf of nonresident members; 3) the nonresident member claims withholding in the same manner in which an employee claims withholding remitted by their ...