Instructions For Form Ri-1040 - 2012 (Page 3 of 6) in pdf

If you do not see a particular credit on RI

date. A late filing penalty will be assessed at 5%

Division of Taxation.

Schedule CR, that means the credit is no longer

(0.0500) per month on the unpaid tax for each

The Rhode Island Division of Taxation and the

allowed against personal income tax.

month or part of a month the return is late. The

Internal Revenue Service exchange income tax

maximum late filing penalty is 25% (0.2500).

information to verify the accuracy of the information

INTEREST

•Failure to pay any tax due by the due date. A

reported on Federal and Rhode Island income tax

Any tax not paid when due, including failure to

late payment penalty will be assessed at 1/2%

returns.

pay adequate estimated tax, is subject to interest at

(0.0050) per month on the unpaid tax for each

the rates of 18% (.1800) per annum.

month or part of a month the tax remains unpaid.

OTHER QUESTIONS

Interest on refunds of tax overpayments will be

The maximum late payment penalty is 25%

Obviously the foregoing general instructions and

paid if the refund is not paid within 90 days of the

(0.2500).

the specific instructions for completing the return

due date or the date the completed return was filed,

•Preparing or filing a fraudulent income tax return.

form(s) which follow will not answer all questions

whichever is later. The interest rate for tax overpay-

that may arise. If you have any doubt regarding

USE OF FEDERAL INCOME TAX INFOR-

ments is 3.25% (.0325) per annum.

completion of your return, further assistance may

MATION

be obtained at the Division of Taxation, One Capitol

PENALTIES

All amounts reported from the Federal Forms

Hill, Providence RI 02908-5801 or by calling the

The law provides for penalties in the following

1040, 1040A, 1040EZ, 1040NR and 1040NR-EZ,

Personal Income Tax Section at (401) 574-8829,

circumstances:

as well as those reported on Form RI-1040, are

option #3.

•Failure to file an income tax return by the due

subject to verification and audit by the Rhode Island

SPECIFIC LINE INSTRUCTIONS

NAME AND ADDRESS

Line 3 – Modified Federal Adjusted Gross

Line 9B – Credit for Taxes Paid to Other States:

Income: Determine your modified federal adjusted

Enter amount of credit for taxes paid to other states

Complete the identification portion of the return,

gross income by combining the amount on line 1

from page 2, RI Schedule II, line 29. If credit is

including your name and social security number,

with the amount on line 2.

claimed for taxes paid to more than one state, make

your spouse’s name and social security number (if

a separate calculation of each state on Form RI-

applicable), address, daytime telephone number

Line 4 – Deductions: Enter your Rhode Island

1040MU. This form can be found on our website,

and your city or town of legal residence.

standard deduction. Rhode Island does not allow

or by contacting the RI Division of

the use of federal itemized deductions.

Taxation at (401) 574-8970.

ELECTORAL SYSTEM CONTRIBUTION

You may designate a contribution of five dollars

Single

$7,800

NOTE: You must attach a signed copy of each

($5) or ten dollars ($10) if married and filing a joint

Married Joint

$15,600

state return for which you are claiming credit.

return, to the account for the public financing of the

Qualifying Widow(er)

$15,600

Failure to attach copies could result in the credit

electoral system. The first two dollars ($2) or four

Married Separate

$7,800

being disallowed.

dollars ($4) if married and filing a joint return, up to

Head of Household

$11,700

a total of two hundred thousand dollars ($200,000)

Line 9C - Other Rhode Island Credits: Enter

collectively for all parties and the nonpartisan

However, if line 3 is more than $181,900 see the

amount of Other Rhode Island Credits from page 6,

account, shall be allocated only to political parties

Exemption Worksheet on page i (back of the front

RI Schedule CR, line 4. Attach RI Schedule CR

which at the preceding general election, nominated

cover) to compute your exemption amount.

and your original certificate or carry-forward sched-

a candidate for governor and such candidate polled

ule to your RI-1040.

at least 5 percent of the entire vote cast in the state

Line 5 - Subtract line 4 from line 3.

for governor. The remaining funds shall be allocat-

NOTE: All credits require the original certificate

ed for the public financing of campaigns for gover-

Line 6 – Exemptions: Enter the number of exemp-

be attached to the return unless the credit amount

nor.

tions from Federal Form 1040, line 6d or 1040A,

is a carry forward from a prior year. Failure to

An electoral system contribution will NOT

line 6d in the box on line 6. If you are filing a

attach the original certificate will result in the disal-

increase your tax due or reduce your refund.

Federal 1040EZ, enter the amount from the chart

lowance of the credit until the original is provided.

below in the box on line 6.

DESIGNATION OF POLITICAL PARTY

Line 9D - Total Rhode Island Credits: Add lines

If you don’t name a political party, your contribu-

9A, 9B and 9C.

Amount on Federal

Enter in box on

tion will by credited to the nonpartisan general

1040EZ, line 5

RI-1040, line 6

account or you can check the box and designate a

Line 10A – Rhode Island Income Tax after

Less than 5,950

political party. If you designate:

Credits: Subtract line 9D from line 8 (If zero or less,

5,950

(1) a political party which did not receive at

enter zero).

9,750

least 5 percent of the entire vote for Governor

11,900

in the preceding general election,

Line 10B - Recapture of Prior Year Other Rhode

15,700

(2) a non-existent political party,

Island Credits: Enter amount of Credit Recapture

19,500

(3) a particular office,

from page 6, RI Schedule CR, line 7.

(4) an individual officeholder or political figure or

(5) a national party which is not a state party,

Line 11 – Rhode Island Checkoff Contributions:

Exemption Amount: Multiply the number of

your electoral system contribution will be credited to

Enter the amount of checkoff contributions from

exemptions in the box by $3,650.

the nonpartisan general account.

page 2, RI Checkoff Contributions Schedule, line

If you designate more than one political party,

37. A list of the checkoff contributions can be found

However, if line 3 is more than $181,900 see the

your contribution will be credited to the first political

on page I-5 of these instructions. These checkoff

Exemption Worksheet on page i (back of the front

party named.

contributions will increase your tax due or reduce

cover) to compute your exemption amount.

your refund.

FILING STATUS

NOTE: If someone else can claim you on their

Check the appropriate box to indicate your filing

Line 12 – Use/Sales Tax Due: Enter the amount of

return, your exemption amount is zero.

status. Generally your filing status for Rhode Island

Use/Sales Tax from line 6 of the Individual

income tax purposes is the same as for Federal

Consumer’s Use/Sales Tax Worksheet on page I-4

Line 7 – Rhode Island Taxable Income: Subtract

income tax purposes.

of these instructions.

line 6 from line 5.

Line 1 – Federal Adjusted Gross Income: Enter

WHAT IS A USE TAX? A Use Tax is a tax on the

Line 8 – Rhode Island Income Tax: Enter the RI

your federal adjusted gross income from Federal

use of tangible personal property in a state where

income tax from the RI Tax Table or Computation

Form 1040, line

37;

1040A, line 21 or 1040EZ, line 4 .

the property has not been subject to the sales tax.

Worksheet.

Rhode Island Use Tax applies when merchandise

Line 2 – Modifications: Enter your net modifica-

purchased outside of Rhode Island is brought into

tions from page 5, RI Schedule M, line 3. If you are

Line 9A – Rhode Island Percentage of Allowable

Rhode Island. Sales and use taxes are comple-

claiming a modification, you must attach RI

Federal Credits: Enter the amount of allowable

mentary taxes and are assessed at the same rate.

Schedule M to your return. RI Schedule M is dis-

federal credits from page 2, RI Schedule I, line 22.

In Rhode Island the sales and use tax rate is 7%.

cussed further on page I-5 of these instructions.

Page I-3

Instructions For Form Ri-1040 - 2012 Page 3

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