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  • Ri Faw-1 2012

Get Ri Faw-1 2012-2025

State of Rhode Island and Providence Plantations Department of Revenue Division of Taxation Field Audit Section One Capitol Hill Providence, RI 02908-5800 APPLICATION FOR SALES TAX EXEMPTION FOR ARTISTIC.

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As of December 1, 2013, all original and limited edition works of art sold in the State of Rhode Island are eligible for exemption from sales tax. This reflects an expansion of the 1996 law that established the first designated arts districts in Rhode Island, to take effect in 1997.

Common exempt goods include clothing and footwear, food, and medical items. Goods for resale are also exempt from sales tax.

For income taxes, you can pay between 10% and 37%, depending on the federal tax bracket that you are in. The higher your income, the more you will owe in terms of income taxes. The self-employment tax is generated automatically if you earn more than $400 worth of net profit for your art.

If you do report sales income, use a 1040 Schedule C to report all sales revenues and expenses that pertain to your art making practice. All of the money you earned from selling your art goes on line 1. All of money you spent to make that work goes on line 4 (this is where your receipts come in handy).

However, it's important to both charge and keep track of sales tax on your artwork sales because the IRS assumes that is what you have been doing when they tax you for your business profits at the end of the year. Not charging sales tax on the sales of physical goods is a form of tax fraud.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232