January 19, 2023

Governor McKee’s 2023 Rhode Island State of the State Address: "Just two weeks ago, I had the honor of being sworn in for my first full term as Governor. Governor of a State I love."

Governor McKee Files FY24 “RI Ready” Budget: Governor Dan McKee today submitted his FY24 “RI Ready” budget to the General Assembly, putting forth key investments to ensure Rhode Island is ready to build on the state’s momentum. Read More

As expected, Governor McKee called for cutting Rhode Island’s sales tax from 7% to 6.85%; the move could save Rhode Islanders approximately $35 million per year. Although the new rate would be slightly higher than our neighboring states (6.35% Connecticut, 6.25% Massachusetts), the Governor indicated willingness to review additional cuts, but future cuts will be contingent on the state’s budget and financial status. READ MORE

Pryor named new R.I. housing secretary as part of department leadership restructuring: READ MORE

Sponsorship Opportunities Available!

For Group Registrations, please email riscpamembers@riscpa.org.

The RI Society of CPAs has opened its scholarship application process for the upcoming year!

  • Carl W. Christiansen Scholarship
  • Cheryl A. Ruggiero Scholarship
  • KLR/Brian A. Altomari Memorial Fund Scholarship

More Information / Scholarship Application

"Mondays With Mark" CLICK HERE Every Monday at 11:00 AM Business Dynamics During The COVID-19 Pandemic: COVID-19 affected every business, but the effects varied by sector, firm size, and geography. For more, read the full issue brief: Business Dynamics During The COVID-19 Pandemic, which provides new insights into economic performance and trends during COVID-19. THE SBA IS EXCITED TO HELP NEW BUSINESSES IN THE NEW YEAR: "If you’ve got a new business in mind for the new year, the SBA can help you get started. If your New Year’s resolution for 2023 is to start your own business, the SBA can help. We are committed to being there with you as you start your business journey, from the minute you have your idea to the moment you’re turning your sign from “coming soon” to “open.” Click HERE for some tips to help you along the way."

ADV 2023-01: Rhode Island estate tax credit and threshold set for 2023 Law provides annual adjustment based on widely used measure of inflation

IRS reminds employers of January 31 deadline for Form W-2, other wage statements: IR-2023-08

IRS selects nine new IRSAC members for 2023: IR-2023-07

IRS sets January 23 as official start to 2023 tax filing season; more help available for taxpayers this year, IR-2023-05

IRS News Releases for Current Month: Click Here

State Tax Changes Taking Effect January 1, 2023: On January 1, 2023, thirty-eight states have noteworthy tax changes taking effect.

RIPEC NEWSLETTER January 2023 Edition - As the 2023 General Assembly session begins, RIPEC brings you an update on public policy in the Ocean State

Request for Proposal: RI Rebounds Ventilation Support Program: The Rhode Island Commerce Corporation seeks proposals from eligible proposers, as identified herein to
receive funding under the Ventilation Support Program (“Ventilation Initiative”), a statewide effort designed to assist small businesses who have been impacted by the COVID-19 pandemic to enhance their ventilation systems, thereby reducing the risk of transmitting COVID-19.

Workplace Accessibility Grant Program: The Workplace Accessibility Grant Program promotes employment and economic opportunity for individuals with disabilities through investment in accessible workplaces. It provides a 100% reimbursement for eligible costs up to $5,000 per calendar year. All Rhode Island employers with fewer than twenty-five (25) employees and who meet the eligibility requirements outlined in the program guide may apply.

The New England Council - 2022 Year in Review

Capitol Hill

The House meets 1/24 at 4:00 PM

The Senate meets at 1/24 at 4:00 PM

State of Rhode Island General Assembly: All Press Releases

Small Business Workshops - In partnership with: Dedham Savings, MA Small Business Development Center, and SCORE

This Way to CPA:

Uniform CPA Examination Conduct and Non-Disclosure Agreement: Effective January 4, 2023, the AICPA will require acceptance of a Uniform CPA Examination Conduct and Non-Disclosure Agreement as part of the Exam scheduling process through Prometric.Stand Out and Offer a New Level of Client Security with a .cpa DomainNEW! AICPA Town Hall Series - January 19 EditionAICPA Benevolent Fund: The AICPA Benevolent Fund was created to support AICPA members with short-term personal financial needs. Program Information

Chartered Global Management Accountant: CGMA is the most widely held management accounting designation in the world with more than 137,000 designees. It was established in 2012 by the AICPA and CIMA to recognize a unique group of management accountants who have reached the highest benchmark of quality and competence. How to Earn the CGMA Designation.

All AICPA Advisory Credentials: Tip Sheet

Employer Student Loan Repayment Assistance Program: Now a tax free benefit through 2025! More Information

Rhode Island Small Business Development Center is hosting a series of free events to help small businesses with their business and marketing needs. For more information, please CLICK HERE

COVID-19 Rhode Island Stats (as of 1/19/2023)

  • New cases per 100,000, last week: 169.6
  • New cases among RI residents last week: 1,792
  • Number of tests reported in RI last week: 15,067
  • Number of Fatalities among RI residents last week: 14
  • Total Fatalities: 3,812
  • People hospitalized last week: 177

VACCINE ADMINISTRATION: (Last Update: 1/13/2023)

  • RI residents who have completed the primary vaccine series as reported by the CDC: 926,581
  • Bivalent Booster Dose: 242,585