Bates Offers Business Tax-Cut Bill
State Sen. David Bates (R-Dist. 32) has introduced a bill to lower the state's 'corporation franchise tax' for businesses — what do you think?
In a move that he said could help small businesses create more jobs in Rhode Island, state Sen. David E. Bates (R-Dist. 32, Barrington, Bristol, Riverside) last week introduced a bill that would lower the state's corporation franchise tax for new and existing businesses. “A $500 minimum corporation franchise tax [imposed under current state law] is a significant amount to many small, start-up companies and is money they could more wisely use to make payroll or reinvest in their company,” Bates said in a statement. "If we are serious about growing jobs in Rhode Island, and if we are serious about making it easier for entrepreneurs to start and grow businesses here, then reducing the cost for small businesses to operate should be one of our …
