The Rhode Island Division of Taxation Oct. 14 issued general instructions for business corporation tax Form RI-1120C, Form RI-1120S, and Form RI-1065 for individual income and corporate income tax purposes. The instructions include information on: 1) tax return filing requirements; 2) payment of taxes; 3) penalties for late return filing and tax payments; 4) the tax rate; and 5) the impact of a change in net income calculations by the federal government on state tax liabilities. The instructions also provide information on automatic extension for filing forms, pass-through withholding requirements, filing estimated tax declaration, combined returns, and deductions for capital ...
