Rhode Island General Laws Title 44. Taxation § 44-43-3. Wage credit

(a) There shall be allocated among the entrepreneurs of a qualifying business entity (based on the ratio of each entrepreneur's interest in the entity to the total interest held by all entrepreneurs) with respect to each entity on an annual basis commencing with the calendar year in which the entity first qualified as a qualifying business entity a credit against the tax imposed by chapter 30 of this title. The credit shall be equal to three percent (3%) of the wages (as defined in 26 U.S.C. § 3121(a)) in excess of fifty thousand dollars ($50,000) paid during each calendar year to employees of the entity; provided, that there shall be excluded from the amount on which the credit is based any wages:

(b) The credit authorized by this section shall cease in the taxable year next following after the taxable year in which the average annual gross revenue of the business entity equals or exceeds one million five hundred thousand dollars ($1,500,000).