RI-1065: Partnership Income Return (2024)

When it's due

For tax year 2024, Form RI-1065 is due on or before the 15th day of the 3rd month following the close of the taxable year.

The form directs single-member LLCs (SMLLCs) to the instructions for their return due date. Those instructions were not provided here.

What you'll need

• Attach a complete copy of the federal return, including all pages, schedules and K-1s.
• Have the entity’s federal employer identification number, Rhode Island Secretary of State ID number and NAICS code available.
• Gather the amounts for payments made on the 2024 estimated tax declaration, Rhode Island pass-through withholding paid on the entity’s behalf, nonresident withholding on real estate sales in 2024 and other payments.
• Have the Rhode Island and everywhere amounts needed for Schedule I, including property, receipts, and salaries and wages.
• If applicable, use RI Schedule PTW for pass-through withholding and RI Schedule PTE for the pass-through entity election tax.
• Complete RI Schedule CR-PT if the entity has credits passing through to its members.
• Attach Form RI-107 if claiming the Schedule B modification for Tax Incentives for Employers.

How to file

Complete the return and applicable schedules, attach the complete federal return including all K-1s, and sign and date the return in the authorized officer section.

Mail to:

RI Division of Taxation

One Capitol Hill

Providence, RI 02908

If an amount is due with the return, the form directs you to use Form BUS-V.

Common mistakes

• Charging the annual fee to a general partnership or sole proprietor. The form’s IMPORTANT notice says these entities must enter 0 on lines 7a and 7b. No annual fee is due.
• Leaving out federal attachments. The form requires a complete copy of all pages and schedules of the federal return, including all K-1s.
• Overlooking the SMLLC due-date reminder. The form tells SMLLC entities to check the instructions for their return due date. Those instructions were not provided here.

Questions people ask

What annual fee is printed on the form?

Line 7a lists a $400 Rhode Island annual fee. The form says general partnerships and sole proprietors owe no annual fee and must enter 0 on lines 7a and 7b.

Can an overpayment be applied to next year’s estimated tax?

Yes. Line 15 lets you enter the amount to credit to 2025 estimated tax. Line 16 shows the amount to be refunded after subtracting that credit from the overpayment.

What if the federal government changes taxable income for a prior year?

Schedule F says to complete an amended RI-1065 immediately for a change not yet reported and submit it to the Tax Administrator with any payment due. Federal changes must be reported within 60 days after a final determination.

Which schedule is used for credits passed through to members?

Schedule D directs the entity to complete RI Schedule CR-PT, Other RI Credits for RI-1065 and RI-1120S filers, if it has credits passing through to its members.

Official sources

• https://tax.ri.gov/forms