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Rhode Island's combined state and local general revenues were $16.2 billion in FY 2021, or $14,749 per capita. National per capita general revenues were $12,277. Rhode Island uses all major state and local taxes.
Rhode Island only has $7.9 billion of assets available to pay bills totaling $12 billion. Because Rhode Island doesn't have enough money to pay its bills, it has a $4.1 billion financial hole. To fill it, each Rhode Island taxpayer would have to send $10,200 to the state.
A Rhode Island Tax Power of Attorney (Form RI-2848) should be filled out and submitted when you wish to appoint another party (i.e. attorney, tax specialist, etc.) to represent your interests with the Rhode Island Division of Taxation.
The largest state and local general own-source funds came from property taxes (17 percent) and charges (16 percent), followed by individual income taxes and general sales taxes (both 12 percent) and selective sales taxes (6 percent).
Today, major Rhode Island industries include biomedicine, defense shipbuilding and maritime products and manufacturing.
Rhode Island's combined state and local general revenues were $16.2 billion in FY 2021, or $14,749 per capita.