Are there any tax credits or deductions available in Rhode Island?

Yes, there are various tax credits and deductions available in Rhode Island to help individuals and businesses reduce their tax liabilities. These include the Earned Income Tax Credit (EITC) for low-income individuals and families, the Child and Dependent Care Expenses Credit for qualifying child care costs, and the Rhode Island Property Tax Relief Credit for homeowners and renters. Additionally, there are deductions for medical expenses, education expenses, and contributions to retirement plans. Businesses can benefit from credits such as the Jobs Development Act Credit, the Renewable Energy Fund Grants and Credits, and the Wavemaker Fellowship Credit. It is important to consult the Division of Taxation or a tax professional to determine eligibility and requirements for these credits and deductions.