Loading chat...
RI H8200
Bill
Status
2/27/2026
Primary Sponsor
Teresa Tanzi
Click for details
AI Summary
-
Imposes a 4% "Wealth Proceeds Tax" on net investment income including interest, dividends, annuities, royalties, capital gains, and rental income for high-income individuals, estates, and trusts
-
Applies to taxpayers exceeding federal "threshold amounts" defined under IRC § 1411(b), which are $250,000 for married filing jointly, $125,000 for married filing separately, and $200,000 for single filers
-
Tax is calculated on the lesser of total wealth proceeds or federal modified adjusted gross income minus the threshold amount
-
Includes income sources sometimes excluded federally, such as gains from qualified small business stock (§ 1202), opportunity zone investments (§ 1400Z-2), and certain trust arrangements
-
Takes effect January 1, 2027, with no retroactive application
Legislative Description
Imposes a tax equal to four percent (4%) on net investment income, such as interest, dividends, annuities, royalties, capital gains and rental income, of high-income households, estates and trusts, based upon federal guidelines.
Taxation
Last Action
Introduced, referred to House Finance
2/27/2026