Investor Presentaiton

Adjusting to the Volatility of Revenues How has Rhode Island performed on these benchmarks? 1. Adjust revenue policy September 30, 2013 ● ● Enacted a personal income tax reform that a. Lowered marginal tax rates b. Taxed all income as ordinary income c. Eliminated the use of itemized deductions d. Reduced the number of credits that could be used against personal income tax Expanded the sales tax base to exempt items a. Over-the-counter drugs b. Software downloaded digitally c. Road transportation services d. Pet care services FTA Revenue Estimation and Tax Research Conference 16 16

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