Rhode Island Recommended Spending Percentages
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FAQ
Among the states, Alaska had the highest per capita state and local spending in 2019 at $17,596, followed by New York ($15,667) and Wyoming ($15,107).
Rhode Island is the 17th-wealthiest state in the United States of America, with a per capita income of $21,688 (2000) and a personal per capita income of $31,916 (2003).
Rhode Island's current budget Rhode Island enacted its FY 2022 budget in July 2021. The enacted budget included $4.6 billion in general fund spending and $13.1 billion in total spending.
Overview of the Rhode Island Economy Rhode Island's gross state product (GSP) in 2019 reached $55.0bn, with growth of 1.1% over the 5-years to 2019. Businesses in Rhode Island employed a total of 24.2 million in 2018, with average annual employment growth of 2.6%.
What is the Use Tax rate? The Rhode Island consumer use tax rate is 7%, which is the same rate as the state sales tax.
Governor Raimondo's FY 2019 $9.37 billion budget embraces the principle that the State must continue to see its long-term investments through, while making difficult, but fiscally responsible decisions to keep Rhode Island's economy moving forward.
Rhode Island's combined state and local general revenues were $12.2 billion in FY 2019, or $11,511 per capita. National per capita general revenues were $10,563. Rhode Island uses all major state and local taxes.
Revenues come mainly from tax collections, licensing fees, federal aid, and returns on investments. Expenditures generally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation.
In Rhode Island in fiscal year 2015, 51 percent of total tax revenues came from sales taxes and gross receipts. Income taxes accounted for 42.3 percent of total state tax collections. Education accounted for 23.6 percent of state expenditures in fiscal year 2015, while 25.1 percent went to Medicaid.
