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Tax Summary
- Rhode Island’s state income tax is based on 25% of the federal taxable income.
- Sales tax in Rhode Island is 7%, with prescriptions, food and most clothing (non-luxury items) being exempt, along with precious metal bullion and burial-related items.
- Property taxes are assessed and collected by local municipalities.
- There is a property tax credit of up to $250 for residents whose total household income is less than $30,000.
- There is a property tax on motorcycles that will be phased out by 2006.
- Boats are exempt from local property taxes and state sales tax.
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