Rhode Island legislation · 2026 Regular Session
Rhode Island S2022: AN ACT RELATING TO TAXATION -- BUSINESS CORPORATION TAX (Repeals the corporation minimum tax.)
Status: Failed, May 28, 2026
What the bill says
From the introduced text, January 9, 2026:
2026 -- S 2022 ======== LC003324 ======== STATEOFRHODEISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ ANACT RELATING TO TAXATION -- BUSINESS CORPORATION TAX Introduced By: Senators de la Cruz, Rogers, Ciccone, Tikoian, Burke, E Morgan, and Paolino Date Introduced: January 09, 2026 Referred To: Senate Finance It is enacted by the General Assembly as follows: SECTION 1. Section 44-11-2 of the General Laws in Chapter 44-11 entitled "Business Corporation Tax" is hereby amended to read as follows: 44-11-2. Imposition of tax. (a) Each corporation shall annually pay to the state a tax equal to nine percent (9%) of net income, as defined in § 44-11-11, qualified in § 44-11-12, and apportioned to this state as provided in §§ 44-11-13 -- 44-11-15, for the taxable year. For tax years beginning on or after January 1, 2015, each corporation shall annually pay to the state a tax equal to seven percent (7.0%) of net income, as defined in § 44-11-13 -- 44-11-15, for the taxable year. (b) A corporation shall pay the amount of any tax as computed in accordance with subsection (a) after deducting from "net income," as used in this section, fifty percent (50%) of the excess of capital gains over capital losses realized during the taxable year, if for the taxable year: (1) The corporation is engaged in …
Sponsors
- Jessica de la Cruz (R, SD-023) · primary sponsor
- Gordon Rogers (R, SD-021)
- Frank Ciccone (D, SD-007)
- David Tikoian (D, SD-022)
- John Burke (D, SD-009)
- Elaine Morgan (R, SD-034)
- Thomas Paolino (R, SD-017)
Latest actions
- : Committee recommended measure be held for further study
- : Scheduled for hearing and/or consideration
- : Introduced, referred to Senate Finance
Votes
- Senate Committee on Finance: Passage (May 28, 2026): 6 yea, 0 nay, passed
Subjects: TAXATION
Common questions
- What is S2022?
- S2022 is a bill in the Rhode Island Legislature (2026 Regular Session): AN ACT RELATING TO TAXATION -- BUSINESS CORPORATION TAX (Repeals the corporation minimum tax.).
- What is the status of S2022?
- Failed as of May 28, 2026. Latest action: Committee recommended measure be held for further study (May 28, 2026).
- Who sponsored S2022?
- Jessica de la Cruz (R, SD-023), with 6 co-sponsors.
- Where is the official record for S2022?
- On the Rhode Island Legislature website: http://webserver.rilegislature.gov/BillText/BillText26/SenateText26/S2022.pdf
Source: official Rhode Island record. Tracked by Delilah, AI for legislation across all 50 states and Congress.