Investor Presentaiton

1.00 PIT Components: Final Payments Rhode Island personal income tax final payments have become more volatile over time especially after 2008. 0.80 0.60 0.40 0.20 0.00 -0.20 WW -0.40 -0.60 1994:Q3 1995:Q3 1996:Q3 1997:Q3 1998:Q3 1999:Q3 Income Tax Rate Phase Down 2000:Q3 2001:Q3 RI Coincident Index 2002:Q3 2003:Q3 2004:Q3 2005:Q3 2006:Q3 PIT Fin 2007:Q3 Alternative Flat Tax Rate Phase In PIT Reform Preferential Tax Treatment of Long-term CG 2008:Q3 2009:Q3 September 30, 2013 FTA Revenue Estimation and Tax Research Conference 2010:Q3 2011:Q3 2012:Q3 7

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