Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 35 - Estate Tax › Part 1 - Computation of Estate Tax (280-RICR-20-35-1) › Section 280-RICR-20-35-1.5 - General

Current through June 14, 2024
A. The Rhode Island estate tax is imposed
				 upon the transfer of the net estate of every resident or nonresident decedent
				 as a tax upon the right to transfer.
B. For decedents whose death occurs on or
				 after January 1, 2002, but prior to January 1, 2010, the tax is a sum equal to
				 the maximum credit for state death taxes allowed by
				  26 U.S.C. §
											2011  as it was in effect as of
				 January 1, 2001.
1. Any scheduled increase in
				 the unified credit provided in
				  26 U.S.C. §
												2010  in effect on January 1, 2001, or
				 thereafter, shall not apply. The tax shall only be imposed if the net taxable
				 estate shall exceed six hundred seventy-five thousand dollars ($675,000).
				 Exempting net taxable estates of six hundred seventy-five thousand or less
				 requires a unified credit of two hundred twenty thousand five hundred fifty
				 dollars ($220,550). See Form RI-100A, Rhode Island Estate Tax Return - Date of
				 death January 1, 2002 through December 31, 2014 - Tax Computation
				 Schedule.
2. For decedents whose
				 death occurs on or after January 1, 2010, and prior to January 1, 2015 the tax
				 is a sum equal to the maximum credit for state death taxes allowed by
				  26 U.S.C. §
												2011  as it was in effect as of
				 January 1, 2001. Any scheduled increase in the unified credit provided in
				  26 U.S.C. §
												2010  in effect on January 1, 2003, or
				 thereafter, shall not apply. The tax shall only be imposed if the net taxable
				 estate shall exceed eight hundred fifty thousand dollars ($850,000). Exempting
				 net taxable estates of eight hundred fifty thousand or less requires a unified
				 credit of two hundred eighty-seven thousand three hundred dollars ($287,300).
				 See Form RI-100A, Rhode Island Estate Tax Return - Date of death January 1,
				 2002 through December 31, 2014 table "B".
3. For decedents whose death occurs on or
				 after January 1, 2015, the tax is a sum equal to the maximum credit for state
				 death taxes allowed by
				  26 U.S.C. §
												2011, in effect as of January
				 1, 2001. Any scheduled increase in the unified credit provided in
				  26 U.S.C. §
												2010  in effect on January 1, 2003, or
				 thereafter, shall not apply. A Rhode Island credit shall be allowed against any
				 tax so determined in the amount of sixty-four thousand four hundred dollars
				 ($64,400).
4. Beginning on January
				 1, 2011 and each January 1 thereafter, the threshold of eight hundred fifty
				 thousand dollars ($850,000) in §
											1.5(B)(2)     of
				 this Part shall be adjusted by the percentage of increase in the Consumer Price
				 Index for all Urban Consumers as of September 30 of the prior calendar year
				 compounded annually and rounded up to the nearest five dollars ($5.00)
				 increment. Exempting net taxable estates from the annually revised amount will
				 require an annual adjustment to the unified credit (line 3 of the computation
				 schedule). The revised taxable threshold and unified credit amounts will be
				 published annually on the tax division website
www.tax.ri.gov
along with a revised computation
				 schedule.