Document Updates: Rhode Island Notification to Buyers of Withholding Tax (Cx1028)
According to Rhode Island General Law §44-30-71.3 and 280 RICR 20-10-1.11, in a sale of real property and associated tangible personal property owned by a nonresident, the buyer is required to deduct and withhold on the payments an amount equal to six (6%) percent of the total payment to nonresident individuals,…