Federal tax act may be enticing foreign firms

WORLD VIEW: Kevin Papa, partner at Piccerelli, Gilstein & Co. LLP in Providence, has performed tax work for numerous foreign companies with interests in the U.S. / PBN PHOTO/ELIZABETH GRAHAM
WORLD VIEW: Kevin Papa, partner at Piccerelli, Gilstein & Co. LLP in Providence, has performed tax work for numerous foreign companies with interests in the U.S. / PBN PHOTO/ELIZABETH GRAHAM
Nearly 2,220 foreign businesses operated in Rhode Island in 2017, according to data from the R.I. Secretary of State’s Office. But after the federal tax Cuts overhaul’s passage late that year, the number of foreign-owned ventures in the Ocean State jumped to 2,399 in 2018, and to 2,502 in 2019. While the legislation reduced the…

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