ADVERTISEMENT

ADVERTISEMENT

Community Calendar

Community Artists Program
10 a.m. - 4 p.m. Charlestown

Saturday Sweat Fitcamp
11 a.m. - 12:30 a.m. Westerly

YMCA Camp Watchaug Open House
1 p.m. - 3 p.m. Charlestown

Wood-Pawcatuck Watershed Association 32nd Annual Meeting & Open House
1 p.m. - 4 p.m. Hope Valley

Rhode Island Sound
1 p.m. - 2 p.m. Westerly

Anthony Quinn Film Festival: Celebrating 100 Years of a Screen Legend
3 p.m. - 5 p.m. Hopkinton

Pasta Supper Fundraiser
5 p.m. - 7 p.m. Carolina

Yard and Bake Sale for Relay for Life
8 a.m. - 2 p.m. Westerly

Razzle Dazzle - A Musical Revue
8 p.m. - 10 p.m. Westerly

Bicycle Rodeo
9 a.m. - Noon Wyoming

... View all of today's events


Stay Connected


ADVERTISEMENT


NFIB: R.I. tax ranking discouraging to small businesses


PROVIDENCE — Rhode Island moved up a notch in a national business tax survey released Wednesday, but it remains among the highest tax states in the country and that should continue to concern lawmakers and the governor, said the National Federation of Independent Business (NFIB).

“Rhode Island is in danger of letting its bad reputation solidify and that’s perilous for the state’s long-term outlook,” said NFIB State Director Bill Vernon. “The governor and lawmakers have worked to identify many of the factors that contribute to the problem but they need to do more to ‘move the needle’ and significantly improve the state’s standing.”

The nonpartisan Tax Foundation on Wednesday released its 2014 State Business Tax Climate survey, which moved Rhode Island up from 47th to 46th. Any improvement is good news, said Vernon, but the state clearly has a lot more work to do if it wants to be competitive.

“Many other states have moved aggressively to cut taxes in order to attract and support small businesses, and Rhode Island should be doing the same thing,” he said. “Except for New Hampshire, most of the region features very high taxes and that should be an opportunity for Rhode Island to distinguish itself to attract new investment.”

The Tax Foundation ranks states according to five categories. Rhode Island finished last for its unemployment insurance taxes, 46th for its property taxes and 43rd for its corporate taxes. For income taxes and sales taxes, it ranked 36th and 27th, respectively.

“Rhode Island doesn’t make the top 50 percent in any category, which explains why its reputation as a place for business remains in negative territory,” Vernon said. “Small business owners hope Rhode Island will at least begin to move to the middle of the pack when it comes to taxes and other costs of doing business so they can grow their businesses and create jobs.”

Connecticut ranked 42nd overall in the Tax Foundation’s index. It was 23rd for its unemployment insurance taxes, 49th for its property taxes and 35th for its corporate taxes.

For income taxes and sales taxes, it ranked 33rd and 32nd, respectively.

Wyoming, South Dakota and Nevada were the top three states in the survey; New York was last.



Back to State
Top Stories of the Week

Sale to undercover officer leads to drug charges for Westerly …
WESTERLY — A local man is facing charges after he allegedly sold heroin to undercover officers on two separate occasions recently, police said Tuesday. Mark … more ...

Pawcatuck thread mill damaged in blaze …
PAWCATUCK — Firefighters from seven fire companies, including the Mystic fire boat, battled a fire that broke out in the century-old Clark Thread Mill building … more ...

Chris Duhamel to resign presidency of Westerly Town Council …
WESTERLY — Christopher Duhamel said Tuesday that he plans to continue serving on the Town Council but will resign from his position as president, citing … more ...

Police logs: Wednesday, May 27, 2015 …
Westerly James A. Ragonese, 48, of 100 Oak St., Westerly, was charged Saturday with domestic simple assault and/or battery. Kevin D. Ryan, 52, of 25 … more ...

Police ID man who died after fall at quarry early …
WESTERLY — Police on Monday identified the man who died after falling more than 80 feet at the former Copar quarry in Bradford early Sunday … more ...

Comments