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When Gov. Donald L. Carcieri signed into law a revised income tax structure in June, it was hailed as a positive move for the state, especially in relation to its competitive position relative to other New England states.
One of the features of the revised tax structure was a greater burden being placed on very high-wealth individuals. But recalculations of the amount of taxes the 30 highest-income Rhode Islanders show that instead of paying more in taxes, they will pay less in 2011 once the state’s Historic Preservation Investment Tax Credit is taken into account.
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