RI S2544

Suspends the 4% gross earnings tax on corporations that manufacture, sell, distribute, or transmit electricity for light, heat, or motive power from January 1, 2027 until January 1, 2036

Suspends the 3% gross earnings tax on the portion of utility earnings from illuminating/heating gas and gas appliances during the same nine-year period

Other public service corporation tax rates remain unchanged, including 1.25% for water companies, railroads, and ferries; 5% for telecommunications; and 8% for cable corporations

Effective date is January 1, 2027