Rhode Island

Corporate Tax Credits for Scholarship Organizations

Rhode Island provides a credit on corporate income taxes for donations to scholarship organizations (SOs), which are privately run nonprofit organizations that support private-school scholarships. Corporate taxpayers contributing to SOs may claim a tax credit equal to 75 percent of their contribution, or equal to 90 percent if they donate for two consecutive years and if the second year's donation is worth at least 80 percent of the first year's donation. The program launched in 2007.