State of Rhode Island Division of Taxation 
   2020 Form RI-PPP - Entity 
   Paycheck Protection Program Tax Return for an Entity

   Federal employer identification number For the taxable year from
                                                                           
                                          MM/DD/2020                          through          
                                                                                            MM/DD/YYYY
   Name                                               E-mail address

   Address 1                                                        Address 2

   City, town or post office                                                 State    ZIP code

   LLC                   LLP       LP     Partnership               SMLLC             S-Corp                                                                             Sole 
                                                                                                                                                              C-Corp     Proprietor

Schedule A: Calculation of Tax

1  Paycheck Protection Program Loan forgiveness amount...............................................................................                         1

2  Paycheck Protection Program Loan forgiveness amount not subject to tax...................................................                                  2          250000            00            

3  Net Paycheck Protection Program Loan forgiveness amount. Subtract line 2 from line 1..............................                                         3

4  Reported Adjusted Taxable Income from RI-1120C, RI-1120S, or RI-1065, line 4.........................................                                      4

5  New adjusted taxable income. Add lines 3 and 4...........................................................................................                  5

6  Apportionment Ratio....................................................................................................................................... 6
                                                                                                                                                                _  .  _  _  _  _  _  _
7  Apportioned adjusted taxable income............................................................................................................            7

8  Tax: Multiply line 7 by the applicable tax rate - C-Corps 7.0%, All others 5.99%............................................                               8

9  Tax due on original return...............................................................................................................................  9

10 Additional Rhode Island Credits from RI Schedule B-CR. Do not include any amount used on original return                                                   10

11 Tax due on taxable portion of the PPP Loan Forgiveness amount. Subtract lines 9 and 10 from line 8........                                                 11

Schedule B: Election
Are you electing to have the member(s)/partner(s) of the entity receiving the PPP Loan Forgiveness file individu-
ally claiming the applicable apportioned share of the taxable portion of the PPP Loan Forgiveness amount?                                                            YES           NO
If yes, do not pay the tax due on line 10 and complete the table in Schedule C on page 2 with the information for 
each member/partner of the entity. 
ALL INFORMATION IS REQUIRED. OTHERWISE, THE ENTITY WILL BE REQUIRED TO PAY THE TAX DUE.

Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and 
belief, it is true, accurate and complete.  Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
 Authorized officer signature             Print name                                      Date                                                                  Telephone number

 Paid preparer signature                  Print name                                      Date                                                                  Telephone number

 Paid preparer address                    City, town or post office State              ZIP Code                                                                             PTIN

                                   May the Division of Taxation contact your preparer?   YES
                                   Due on December 15, 2021. Payment must be received by March 31, 2022

        State of Rhode Island Division of Taxation 
        2020 Form RI-PPP - Entity 
        Paycheck Protection Program Tax Return for an Entity

Schedule C - Member(s)/Partner(s) Information
If you checked yes in schedule B, Schedule C must be filled out completely.  You must also provide each member/partner with their 
individual information so each one may complete Form RI-PPP - Individual.

              Column A                        Column B                     Column C                     Column D                Column E
                                                           Taxable portion of PPP Loan  
              Name                            Complete SSN forgiveness amount from                      Ownership        Individual’s Share of the  
                                                                                                                   Taxable PPP Loan forgiveness 
                                                                           page 1, line 3               Percentage       amount (Col C x Col D) 

Totals for Column D and Column E only.   
Column D should total 100% and Column E should the amount from page 1, line 7...........................
                                                           INSTRUCTIONS 
Complete the header information as you would have completed your original tax year 2020 return. 
Line 1: Enter the amount of your 2020 Paycheck Protection Program Loan forgiveness amount.  Be sure to only include the amount received in 
the entity’s 2020 tax year.  
Line 2: $250,000. This is the threshold amount of which any Paycheck Protection Program Loan Forgiveness amount received above this is sub-
ject to tax. 
Line 3: Subtract line 2 from line 1. 
Line 4: Enter the adjusted taxable income amount reported on your original tax year 2020 Rhode Island tax return from RI-1120C, RI-1120S, or RI-
1065, line 4. 
Line 5: Add lines 3 and 4 to get your new adjusted taxable income amount. 
Line 6: Apportionment ratio.  Enter the apportionment ratio from your original tax year 2020 return from RI-1120C, RI-1120S, or RI-1065, line 5. 
Line 7: Apportioned adjustable taxable income - Multiply line 5 by line 6. 
Line 8: Tax: Multiply line 7 by the applicable tax rate - C-Corps 7.0%, All others 5.99% 
Line 9: Tax due on original return.  Enter the amount of tax due on the entity’s original tax year 2020 return regardless of whether or not original 
amount due was paid.  Entities that elected to file Form RI-PTE with the original filing should enter the amount from RI-PTE, line 5 on this line.  If 
a prior election was not made, the tax paid would be zero. The minimum tax due on Form RI-1120S or RI-1065 would not be included on this line. 
Line 10: Additional Rhode Island credits from RI Schedule B-CR.  Do not include any credit amounts claimed on your original filing. You must at-
tach RI Schedule B-CR along with a credit schedule showing the type(s) and amount(s) of available credit.  Credits issued in a member/partner’s 
name cannot be used against the entity’s tax. 
Line 11: Tax due on taxable portion of the Paycheck Protection Program Loan Forgiveness amount. Subtract lines 9 and 10 from line 8.  Do not 
pay this amount if the entity is electing to have the tax paid at the member/partner level. 
 
Schedule B:   
If the entity elects to have the members/partners pay the tax on the taxable portion of the Paycheck Protection Program Loan Forgiveness 
amount, Form RI-PPP – Entity must be filled out completely being sure to include each member/partners information on Schedule C AND each 
member/partner must complete and submit their own Form RI-PPP – Individual claiming their portion of the loan. 
 By December 15, 2021 mail your completed form to:                                          By March 31, 2022 mail your payment to: 
              RI Division of Taxation                      Page 2                                       RI Division of Taxation 
                   One Capitol Hill                                                                     One Capitol Hill 
              Providence, RI 02908                                                                      Providence, RI 02908