Tax Credits in Rhode Island Research Paper Example | Topics and Well Written Essays - 1250 words

Tax Credits in Rhode Island - Research Paper ExampleIt also includes real realm costs, utilities, labor costs, and valuatees that are considered significant factors in business climate evaluation. In this area, Rhode Island has the largest prospect to enhance its temperament in national rankings. Rhode Islands comparatively lofty tax burden and intricate regulatory organize are two major areas that live made business impossible within the island (Bardach 23). Several proposals have been forwarded with the intention of easing the pressure on businesses. One of these suggestions involves the introduction of tax credits to ease the tax burden and encourage local and foreign enterprises to thrive in the island. The following sections attempt to discuss the pros and cons of introducing such a macroeconomic policy as well as its effects and viability within Rhode Island.Elements such as a high tax burden and intricate regulatory setting have made it contend the government to develop an appealing environment for commerce. Rhode Islands business tax burden can be considered one of the highest globally. Based on the KPMG study entitled Location Matters, Rhode Island recorded higher than normal place for its tax rate index at 28.4%. This figure was significantly higher than all the New England states (Bardach 26). The work force quality, cost of doing business and business climate in Rhode Island has been cited by different surveys as being on a lower floor standard while it has performed exceedingly well in terms of quality of life, access to capital and nurture levels.