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2023 INSTRUCTIONS FOR SCHEDULE B-CR

BUSINESS ENTITY CREDIT SCHEDULE

TO BE USED WITH FORMS RI-1120C, T-71, T-72, T-74 & T-86
All supporting documentation for any credit being used must be at- Line 3 - RI-286B
tached to the return being filed in order for credit to be given. If com- Historic Structures - Tax Credit (Historic Preservation Investment Tax Credit)
plete documentation is not submitted, the credit will be disallowed until and Historic Preservation Tax Credits 2013
proper documentation is provided. For approved rehabilitation of certified historic structures. The original cer-
tificate must be submitted to the Division of Taxation. Any unused credit
amount may be carried forward for ten (10) years.
ORIGINAL CERTIFICATE MUST BE PROVIDED R.I. Gen. Laws § 44-33.2 and R.I. Gen. Laws § 44-33.6
Original certificates must be provided for Tax Credits for Contributions CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74
to Qualified Scholarship Organizations, Historic Preservation Invest-
ment Tax Credit, Historic Preservation Tax Credits 2013, the Low In-
come Housing Tax Credit, the Rhode Island Qualified Jobs Incentive Line 4 - RI-2874
Program, the Rhode Island Small Business Development Fund, the Re- Employer’s Apprenticeship Program
build Rhode Island Tax Credit, the Motion Picture Production Company For any taxpayer who employs a machine tool and metal trade apprentice
Tax Credit, and the Musical and Theatrical Production Tax Credit. or plastic process technician apprentice duly enrolled and registered under
the terms of a qualified program (as determined by the state apprenticeship
Original certificates should be sent to: council) is entitled to a tax credit for each eligible apprentice for fifty percent
Rhode Island Division of Taxation (50%) of actual wages paid, or four thousand eight hundred dollars ($4,800),
Forms, Credits & Incentives Section whichever is less; provided, that the apprenticeships meet certain require-
One Capitol Hill ments. Form RI-2874 must be completed and attached to the return.
Providence, RI 02908
Attn: Donna Dube R.I. Gen. Laws § 44-11-41
CAN BE USED ON FORM RI-1120C
CANNOT BE USED ON FORMS T-71, T-72, T-74 and T-86
If tax is equal to the minimum income tax, no credit amount shall be
listed, or allowed.
Line 5 - RI-2880
If you are using amounts carried forward from prior years, attach a Residential Renewable Energy System Tax Credit
schedule showing the year of credit origination and any amounts used For approved for specific types of residential systems approved by the RI
to date. energy office. Credit letter, application form and approval form from the RI
Office of Energy Resources must be attached. Unused amounts CANNOT
Any missing or incomplete documentation will cause a delay in pro- be carried forward to future years.
cessing your return, and may cause a credit amount listed to be disal-
lowed. R.I. Gen. Laws § 44-57
CAN BE USED ON FORM RI-1120C
CANNOT BE USED ON FORMS T-71, T-72, T-74 and T-86
NOT ALL CREDITS CAN BE USED ON EVERY RETURN. REFER TO
THE INSTRUCTIONS FOR EACH CREDIT TO SEE IF THAT CREDIT IS
ALLOWABLE AGAINST THE TAX ON THE RETURN BEING FILED. Line 6 - RI-3468
Investment Tax Credit
TAKING A CREDIT NOT ALLOWED ON THE RETURN BEING FILED For manufacturing and other property. Proper documentation must be at-
MAY RESULT IN A DELAY IN PROCESSING THE RETURN AND WILL tached to your return. If using a 10% ITC, the 10% Certification letter from
RESULT IN THE CREDIT BEING DISALLOWED. the Department of Labor and Training must be included with your documen-
tation. Form RI-3468 must be completed and attached to the return.

Line 1 - RI-2276 R.I. Gen. Laws § 44-31
Tax Credits for Contributions to Scholarship Organizations CAN BE USED ON FORMS RI-1120C, T-71 and T-74
For business entities that make contributions to qualified scholarship organ-
izations. The entity must apply for approval of the tax credit and will receive
a tax credit certificate issued by the Division of Taxation. The original cer- Line 7 - RI-3675
tificate must be submitted to the Division of Taxation. The credit must Employment Tax Credit
be used in the tax year that the entity made the contribution. Unused For an employer participating in the bonus program under R.I. Gen. Laws §
amounts CANNOT be carried forward. 40-40-6.3. A written certificate from the Director of Human Services must be
attached to your return. The credit cannot reduce your tax below the mini-
R.I. Gen. Laws § 44-62 mum tax. Any unused amounts CANNOT be carried forward to future years.
CAN BE USED ON FORMS RI-1120C, T-71, T-72, T-74 and T-86
R.I. Gen. Laws § 44-39.1
CAN BE USED ON FORMS RI-1120C, T-71, T-72, T-74 and T-86
Line 2 - RI-2441
Daycare Assistance and Development Credit
For employers and others providing daycare to employees. Credits 30% of Line 8 - RI-5009
qualified expenses. This credit cannot reduce your tax below the minimum Educational Assistance and Development Tax Credit
tax. Form RI-2441 must be completed and attached to the return. Form RI-5009 must be completed and attached to the return.

R.I. Gen. Laws § 44-47 R.I. Gen. Laws § 44-42
CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74 CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74

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2023 INSTRUCTIONS FOR SCHEDULE B-CR

BUSINESS ENTITY CREDIT SCHEDULE

TO BE USED WITH FORMS RI-1120C, T-71, T-72, T-74 & T-86
Line 9 - RI-5442 credit above $25,000. This credit cannot reduce your tax by more than 50%.
Low Income Housing Tax Credits Any unused credit may be carried forward for 7 years. Form RI-7695E must
For eligible taxpayers having an ownership interest in a qualified low-income be completed and attached to the return.
housing Rhode Island project that has been certified by, and received a tax
credit certificate from, the Department of Housing. The original certificate R.I. Gen. Laws § 44-32-3
must be submitted to the Division of Taxation. Any unused credit amount CAN BE USED ON FORMS RI-1120C and T-71
may be carried forward for four (4) years.

R.I. Gen. Laws § 44-71 Line 15 - RI-769P
CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74 Research and Development Property Credit
For property in laboratory or experimental research. Credit is 10% of cost or
basis of property. Any unused credit may be carried forward for 7 years. A
Line 10 - RI-6324 modification under R.I. Gen. Laws § 44-32-1 may not be claimed for property
Adult Education Credit used in this credit.
For employers offering specific types of adult education. Form RI-6324 must
be completed and attached to the return. R.I. Gen. Laws § 44-32-2
CAN BE USED ON FORMS RI-1120C and T-71
R.I. Gen. Laws § 44-46
CAN BE USED ON FORMS RI-1120C, T-71, T-72, T-74 and T-86
Line 16 - RI-8201
Motion Picture Production Tax Credit or
Line 11 - RI-6754 Musical and Theatrical Production Tax Credits
Rhode Island New Qualified Jobs Incentive Act 2015 For certified production costs as determined by the Rhode Island Film and
For Rhode Island businesses creating new full-time jobs that did not previ- Television Office and the Division of Taxation. The original certificate must
ously exist in this state. The Rhode Island business must be approved by be submitted to the Division of Taxation. Any unused credit amount may
the Rhode Island Commerce Corporation and must possess a tax credit cer- be carried forward for three (3) years.
tificate issued by the Rhode Island Division of Taxation. The original cer-
tificate must be submitted to the Division of Taxation. Any unused Motion Picture Production Tax Credit:
amounts may be carried forward for 4 years. R.I. Gen. Laws § 44-31.2
CAN BE USED ON FORMS RI-1120C, T-71 and T-74
R.I. Gen. Laws § 44-48.3
CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74 Musical and Theatrical Production Tax Credit:
R.I. Gen. Laws § 44-31.3
CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74
Line 12 - RI-7233
Rhode Island Small Business Development Fund
Small business fund investors, upon making a capital investment in a small Line 17 - RI-8826
business development fund, earn a vested right to a credit against the en- Disabled Access Credit for Small Businesses
tity's state tax liability. The small business fund investor must be approved Form RI-8826 must be completed and attached to the return.
by, and receive a tax credit certificate from, the Rhode Island Commerce
Corporation. The original certificate must be submitted to the Division R.I. Gen. Laws § 44-54
of Taxation. Any unused amounts may be carried forward for 7 years. CAN BE USED ON FORMS RI-1120C and T-72

R.I. Gen. Laws § 42-64.33
CAN BE USED ON FORM T-71 Line 18 - RI-9261
CANNOT BE USED ON FORMS RI-1120C, T-72, T-74 and T-86 Jobs Development Rate Reduction Credit
For business entities approved by the Economic Development Corporation.
Form RI- 9261 must be completed and attached to the return.
Line 13 - RI-7253
Rebuild Rhode Island Tax Credit R.I. Gen. Laws § 42-64.5
For Rhode Island businesses demonstrating that even though the business CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74
has committed capital investment or owner equity of at least 20% of the total
project cost there exists a project financing gap which will likely cause the
project not to be completed. The Rhode Island business must be approved Line 19 - Total Rhode Island Credits
by the Rhode Island Commerce Corporation and must possess a tax credit Add lines 1 through 17. Enter the total credit amount on this line and on the
certificate issued by the Rhode Island Division of Taxation. The original applicable line for the form being filed. See below for the applicable line.
certificate must be submitted to the Division of Taxation. Any unused
amounts may be carried forward for 4 years. Form RI-1120C - Schedule A, line 12
Form T-71 - Schedule A, line 8a
R.I. Gen. Laws § 42-64.20 Form T-72 - Schedule B, line 2
CAN BE USED ON FORMS RI-1120C, T-71, T-72 and T-74 Form T-74 - Schedule A, line 10
Form T-86 - line 5

Line 14 - RI-7695E
Research and Development Expense Credit
For federally defined excess RI expenses in laboratory or experimental re-
search. Credit is 22.5% of qualified credit on first $25,000 and 16.9% of the
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