This bill amends the General Laws to increase the net taxable estate exemption to four million dollars ($4,000,000) for deaths that occur on or after January 1, 2025. The bill also makes adjustments to the Rhode Island credit amount under this section based on the percentage of increase in the Consumer Price Index for all Urban Consumers (CPI-U) as published by the United States Department of Labor Statistics. The bill takes effect upon passage.
Statutes affected: 2064: 44-22-1.1