INCENTIVE DESCRIPTION

State:	RI
Incentive Type:	Income/Franchise Tax Incentives and Credits
Incentive Title:	Training Credits
Description:	1. JOB TRAINING TAX CREDIT: Tax credit against the Rhode Island corporate income tax equal to 50% of the actual training costs. May be for new or current employees. Credit is capped at $5000/employee over a three year period.b 2.RHODE ISLAND APPRENTICESHIP TAX CREDIT: Credit is equal to 50% of actual wages paid to a qualifying apprentice or $4800, whichever is less. 3.ADULT EDUCATION TAX CREDIT: Tax credit available for training either at the work site or off site. Credit may be for 50% of the costs incurred up to a maximum of $300/employee or $5000/employer. Excess credit may not be carried forward.
Eligibility Requirements:	1. Plans must be filed with the Rhode Island Human Resources Investment Council prior to training. 2. Apprenticeship must be in metal & plastics industry, machinist, toolmaker, model-maker, gage maker, pattern maker, plastic process technician, tool & machine setter, die sinker, mold-maker, tool & die maker and machine tool repair. 3. Employee must be employed 13 consecutive weeks and have a minimum of 455 hours of paid employment.
Geographic Restrictions:	Statewide
Granting Authority:	Rhode Island Economic Development Corporation

The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.