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        State of Rhode Island Division of Taxation 
        2023 RI-PTE 
        Pass-through Entity Election Tax Return                                                                   23113899990101

    Federal employer identification number    Social security number                                                      Short                              Pro-            Cash 
                                                                                                                          Year                               Forma           Basis
                                                                                                                          Address                            Amended 
    For the taxable year from                                                                                             Change                             Return          Accrual
                                              through
                              MM/DD/2023              MM/DD/YYYY
    Name

    Address 1

    Address 2

    City, town or post office                                                                               State ZIP code

    E-mail address                                                                                          NAICS code

                                                                                                                                                             Sole 
Entity  LLC                   LLP          LP         Partnership                                     SMLLC           S-Corp                                 Proprietor Trust
type:
1 Total Pass-through Entity Income apportioned to Rhode Island.....................................................................                        1

2 Percentage of the economic benefit received by each individual member in the entity..................................                                    2
                                                                                                                                                             _  .  _  _  _  _  _  _
3 Pass-through Entity income generated by the individuals. Multiply line 1 by line 2........................................                               3

4 Individual Tax Rate 5.99% .............................................................................................................................. 4      5.99%

5 Pass-through Entity Election Tax. Multiply line 3 by line 4..............................................................................                5
6 a Pass-through Entity Election Estimates made on Form BUS-EST                                    6a
  plus any amount carried forward from the preceding year.............                                                                                       ALL RI-1099Es 
                                                                                                                                                             MUST BE ATTACHED 
b PTE Extension made on Form BUS-EXT and NRREWH payments                                           6b                                                        TO THIS RETURN
  (see instructions)...............................................................................
c Total Payments. Add lines 6a and 6b..............................................................................................................        6c

7 a Amount Due. Subtract line 6c from line 5.......................................................................................................        7a
b
  Enter the amount of underestimating interest due from Form RI-2220. (attach form)                                                                        7b
  This amount should be added to line 7a or subtracted from line 8, whichever applies..................................
c                                                                                                                                                          7c
  TOTAL AMOUNT DUE. Add lines 7a and 7b.Complete form BUS-V and send in with your payment  L
8 AMOUNT OVERPAID AND TO BE REFUNDED. If Line 6c is larger than line 5, subtract line 5 from                                                               8
  line 6c. If there is an amount due for underestimating interest on line 7b, subtract line 7b from line 8    J

  Note: Due to the Rhode Island Division of Taxation’s plan to incorporate Form RI-PTE as a schedule to be filed with Forms 
  RI-1065 and RI-1120S starting with tax years beginning on or after January 1, 2024, an overpayment can only be refunded 
  for tax year 2023.  A carry forward of an overpayment, in whole or in part, will not be allowed.

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 or before the 15th day of the 3rd month following the close of the taxable year                                                         Revised 
                                                                                                                                                                             09/2023

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                         Form RI-PTE - Pass-through Entity Election 
                                                                         
                         GENERAL INFORMATION AND INSTRUCTIONS 

For tax years beginning on or after January 1, 2019, a pass-through entity may elect to pay the state tax at the entity level at the rate of 
five and ninety-nine hundredths percent (5.99%).  
 
If a pass-through entity elects to pay an entity tax under this subsection, the entity shall not have to comply with the provisions of R.I. 
Gen. Laws § 44-11-2.2 regarding withholding on non-resident owners. 
 
Using Form RI-1099E, the pass-through entity shall report the following information: 
 • The pass-through entity’s identifying information - federal employer identification number, name and address; 
 • The pass-through entity’s type; 
 • The accounting method used by the pass-through entity (this box must be checked); 
           •       If hybrid, check the box for the method of accounting that is being used for the application of the payments 
 • If the pass-through entity has a year end date other than 12/31, enter the fiscal year dates; 
 • The pass-through entity member’s identifying information - social security number, name and address; 
 • The pass-through entity member’s percent of ownership; 
 • The pass-through entity member’s pro rata share of the state income taxes paid by the entity.  This is the amount that will be 
   allowed as a state tax credit for the pass-through entity member on his or her personal income tax return using RI Schedule W; 
   and 
 • The pass-through entity member’s pro rata share of the state income tax payments made by the entity as an income (addition) 
   modification to be reported by the pass-through entity member on his or her personal income tax return using RI Schedule M. 
   The entity will report the modification based upon the basis of accounting. (See Determining the Amount of income Required to 
   Be Reported by the Pass-Through Entity below)  
 
Filing Form RI-PTE 
Form(s) RI-1099E must be attached to Form RI-PTE, as well as to the personal income tax return(s) filed by the pass-through entity 
member(s).  Credit will not be allowed for the pass-through entity election until all documentation has been received and until Form RI-
PTE has been filed.   
 
Electronic Mandate
The Rhode Island Division of Taxation has an electronic mandate that requires Larger Business Registrants use electronic means to file 
returns and remit taxes beginning on January 1, 2023. 
 
A "larger business registrant" is defined as any person who: 
   1) Operates as a business whose combined annual liability for all taxes administered by the Division of Taxation for the entity is 
   or exceeds $5,000; or 
   2) Operated as a business whose annual gross income is over $100,000 for the entity. 
 
If you meet either of the above criteria you are required to file returns and remit taxes electronically. 
 
Visit the RI Division of Taxation’s website for additional information. 
 
Taxation website: https://tax.ri.gov/online-services/tax-portal 
 
Taxation’s portal website: https://taxportal.ri.gov/ 
 
In order to file your return and/or remit your payment through the portal, you will need a portal account and a PIN number.  If you do not 
have both of those required items already, be sure to timely create your portal account and/or request a PIN number so that you are set 
up and ready to file your return and/or remit your payment by the due date.  You do not need a portal account to request a PIN number. 
 
                      YOU MAY BE SUBJECT TO A PENALTY FOR FAILURE TO FILE RETURNS  
                             AND/OR REMIT PAYMENTS VIA ELECTRONIC MEANS. 
                                                                         
If you are not required to file and pay via electronic means, use the following address to send in your return, attachments and payments: 
   Rhode Island Division of Taxation 
   One Capitol Hill 
   Providence, RI 02908-5811 
 
Determining the Amount of the State Tax Credit for the Pass-through Entity 
 
State tax credit shall be the amount of tax paid by the pass-through entity, at the entity level, which is passed through to the owners, on 
a pro rata basis.  
                                                                Page I-1

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                    Form RI-PTE - Pass-through Entity Election 
                                                                 
                                   GENERAL INFORMATION AND INSTRUCTIONS 

Regardless of the Accounting Method used by the pass-through entity making the pass-through entity election, the amount of tax paid 
by the pass-through entity is equal to the amount calculated for line 5 of Form RI-PTE.  NOTE:  the tax amount must be paid in order to 
receive the credit. 
 
Determining the Amount of the State Tax Credit for the Pass-through Entity Member(s) 
 
To determine the amount of state tax credit for the pass-through entity member(s), multiply the state tax credit from line 5 of Form RI-
PTE by the precent of ownership for each pass-through entity member.  This is the amount each pass-through entity member will report 
on RI Schedule W when filing Form RI-1040 or Form RI-1040NR. 
 
Determining the Amount of Income Required to Be Reported by the Pass-through Entity 
 
Cash Basis Pass-through Entity: 
The amount required to be reported as income by the pass-through entity member(s) is the member’s apportioned share of the total of 
payments made by the pass-through entity DURING the tax year of the return being filed.   
 
For example, a calendar year ending pass-through entity makes four estimated tax payments on the following dates - April 15, June 15, 
September 15 and December 15.  The cash basis pass-through entity also makes an extension payment and a payment with the RI-
PTE following the end of the calendar year. 
 
The cash basis pass-through entity member(s) must report the apportioned share of the total of the four estimates paid during the cal-
endar year as an increasing modification on RI Schedule M, line 2h. 
 
In addition, a cash basis pass-through entity member(s) may take a decreasing modification on RI Schedule M, line 1v for the amount 
of pass-through entity tax claimed in the prior year which was an overpayment calculated on the RI-PTE when filed.   
 
If the pass-through entity is a cash basis entity as shown on the entity’s federal return and the RI-PTE for tax year 2021 had an over-
payment that was refunded, in whole or in part, to the entity, use the following to determine the decreasing modification amount. 
 
Tax year 2022 Overpayment Carried Forward to Tax Year 2023 
If the pass-through entity applied an overpayment from tax year 2022 as a carryforward to tax year 2023 and no refund was received by 
the entity then the individual member(s) of the entity would not include a decreasing modification for that pass-through entity’s overpay-
ment. The entity would not account for the carryforward as income eliminating the need for the individual taxpayer to offset the addi-
tional income with a decreasing modification.  
 
Tax Year 2022 Overpayment Refunded to the Entity 
If the pass-through entity’s tax year 2022 overpayment was refunded to the entity, the entity would be expected to include that refund as 
income on its tax year 2023 corporate filings enabling the individual taxpayer to claim a decreasing modification in tax year 2023 IF the 
individual taxpayer previously accounted for the tax year 2022 refund as part of the payments made in calendar year 2022 AND prop-
erly claimed the payments as an increasing modification in tax year 2022. If any part of the 2022 overpayment was due to payments 
made within calendar year 2023, the individual taxpayer should not have accounted for those payments as part of the 2022 increasing 
modification because the payments were made within 2023.  
 
Tax Year 2022 Overpayment Split Between a Carryforward and a Refund 
If the pass-through entity’s tax year 2022 overpayment was split between a refund and carryforward, the individual taxpayer would 
apply the above treatment on the allocated amount of the overpayment.  
 
Accrual Basis Pass-through Entity: 
The amount required to be reported as income by the pass-through entity is the total of payments made by the pass-through entity FOR 
the tax year of the return being filed minus any overpayment on the return.   
 
For example, a calendar year ending pass-through entity makes four estimated tax payments on the following dates - April 15, June 15, 
September 15 and December 15.  The accrual basis pass-through entity also makes an extension payment and a payment with the RI-
PTE following the end of the calendar year. 
 
The accrual basis pass-through entity must report the total of the four estimates, the extension payment and the payment made with the 
return as an increasing modification on RI Schedule M, line 2h. 
 
If the payments made for the tax year exceeds the amount of tax on line 5, the total amount of payments must be reduced by the over-
payment amount regardless of whether the overpayment is refunded or carried forward. 
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Form RI-PTE - Pass-through Entity Election

GENERAL INFORMATION AND INSTRUCTIONS

Credit for Taxes Paid to Another State
A similar type of tax imposed by another state on the owners' income paid at the state entity level shall be deemed to be allowed as a
credit for taxes paid to another jurisdiction in accordance with the provisions of § 44-30-18.

Combined Reporting
"Combined reporting" as set forth in § 44-11-4.1 shall not apply to reporting under this section.

SPECIFIC LINE INSTRUCTIONS
Line 1 – Pass-through Entity income: Enter your Total Pass-through Entity Income apportioned to Rhode Island. By way of example,
see table below.

Entity Type Form/Line Reference
LLC Apportioned Rhode Island taxable income from RI-1065, Line 6
LLP Apportioned Rhode Island taxable income from RI-1065, Line 6
LP Apportioned Rhode Island taxable income from RI-1065, Line 6
Partnership Apportioned Rhode Island taxable income from RI-1065, Line 6
SMLLC Apportioned Rhode Island taxable income from RI-1065, Line 6
S-Corp Apportioned Rhode Island taxable income from RI-1120S, Line 6
Trust Allocated Rhode Island taxable income from RI-1041, multiply line 7 by line 9

Line 2 – Percentage of the economic benefit received by each member in the entity: Enter your Percentage of ownership attributable
to individuals.

Line 3 – Pass-through Entity income generated by the individuals: Multiply line 1 by line 2.

Line 4 – Individual Tax Rate: The individual tax rate is 5.99%.

Line 5 – Pass-through Entity Election Tax: Multiply line 3 by line 4.
This is the amount of state tax credit that will be passed through to the member(s) of the pass-through entity. See “Determining the
Amount of the State Tax Credit for the Pass-through Entity” and “Determining the Amount of the State Tax Credit for the Pass-through
Entity Member(s)” on page 1 for additional information.

Line 6a – Pass-through Entity Election Estimates: Enter your Pass-through Entity Election Estimates made on Form BUS-EST plus
any amount carried forward from the preceding tax year.

Line 6b – Other Allowable Payments: Enter the total of your Pass-through Entity Election Extension made on Form BUS-EXT and any
non-resident real estate withholding payments made by the pass-through entity.

Line 6c –Total Payments: Add lines 6a and 6b. See “Determining the Amount of Income Required to Be Reported by the Pass-through
Entity” on page 1 for additional information.

Line 7a – Amount Due: Subtract line 6c from line 5.

Line 7b – Underestimating Interest Due: Complete form RI-2220. Enter the amount of interest due from Form RI-2220, line 12 on this
line. This amount should be added to line 7a or subtracted from line 8, whichever applies.

Line 7c – Total Amount Due: Add lines 7a and 7b. This amount is payable in full with your return. Complete Form BUS-V. Send payment
and Form BUS-V with your return.

Line 8 – Amount Overpaid and to be Refunded: If the amount on line 6c is greater than the amount on line 5 then SUBTRACT line 5
from line 6c and enter the amount on line 18. If there is an amount due on line 7b for underestimating interest, subtract line 7b from line
8.

Note: Due to the Rhode Island Division of Taxation’s plan to incorporate Form RI-PTE as a schedule to be filed with Forms RI-1065 and
RI-1120S starting with tax years beginning on or after January 1, 2024, an overpayment can only be refunded for tax year 2023. A
carry forward of an overpayment, in whole or in part, will not be allowed.

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Form RI-PTE - Pass-through Entity Election

GENERAL INFORMATION AND INSTRUCTIONS

DEFINITIONS

(1) "Election" means the annual election to be made by the pass-through entity by filing the prescribed tax form and remitting the appropriate
tax.

(2) "Net income" means the net ordinary income, net rental real estate income, other net rental income, guaranteed payments, and other
business income less specially allocated depreciation and deductions allowed pursuant to § 179 of the United States Revenue Code (26
U.S.C. § 179), all of which would be reported on federal tax form schedules C and E. Net income for purposes of this section does not in-
clude specially allocated investment income or any other types of deductions.

(3) "Owner" means an individual who is a shareholder of an S Corporation; a partner in a general partnership, a limited partnership, or a
limited-liability partnership; a member of a limited-liability company, a beneficiary of a trust; or a sole proprietor.

(4) "Pass-through entity" means a corporation that for the applicable tax year is treated as an S Corporation under I.R.C. 1362(a)(26
U.S.C. § 1362(a)), or a general partnership, limited partnership, limited-liability partnership, trust, limited-liability company or unincorporated
sole proprietorship that for the applicable tax year is not taxed as a corporation for federal tax purposes under the state's regulations.

(5) "State tax credit" means the amount of tax paid by the pass-through entity at the entity level that is passed through to an owner on a
pro rata basis.

STATUTORY AUTHORITY

R.I. Gen. Laws § 44-11-2.3. Pass-through entities – Election to pay state income tax at the entity level.

Revised
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