Rhode Island, one of the hardest hit states during this ongoing recession, offers aggressive tax credits that businesses can take advantage of. However, weeding through the legalese of these credits is enough to give anyone a headache.

For example, a manufacturing tax credit was created to boost the state’s disappearing manufacturing base. The state regulations say that to qualify, one of the criteria for qualification is as follows: “the employer’s median annual wage paid to its full-time equivalent employees must be greater than the average annual wage paid by all employers in the state in the same two-digit SIC Code or corresponding NAICS code.” Continue reading →