Skip to main content
Need assistance getting a cannabis business license? We can help. Schedule a Free Consultation
Need assistance getting a cannabis business license?  Schedule a Free Consultation
image

Jan. 23, 2023, 5:00 AM

The Rhode Island Division of Taxation Jan. 20 issued an advisory on individual income, corporate income, sales and use, excise, and estate tax changes effective Jan. 1. The advisory includes: 1) that effective Dec. 1, 2022, a state cannabis excise tax of 10 percent and a local cannabis excise tax of 3 percent are applicable on the sale of adult use cannabis and cannabis products by a licensed retailer; 2) the definition of a “larger business registrant” and that beginning Jan. 1, larger business registrant taxpayers are required to file returns and remit taxes electronically; 3) that the estate tax …

Request a Free Consultation