The synthesis and characterization of the tetrathiomolybdatorhodium­(I) monoanionic complexes L2Rh­(μ-S)2MoS2− (L = CO (3), P­(OPh)3 (4), P­(O-o-Tol)3 (P­(o-CH3C6H4)3; 5), P­(OMe)3 (6), P­(OEt)3 (7), P­(O-i-Pr)3 (8); L2 = COD (1,5-cyclooctadiene; 2), cis-dppen (cis-Ph2PCHCHPPh2; 9), dppe (Ph2PCH2CH2PPh2; 10), dppb (Ph2P­(CH2)4PPh2; 11)) is presented. The complex 2 (NEt4 + salt) was characterized by X-ray diffraction analysis. A detailed DFT study of the electronic structures of 2–4 and 6–8 has revealed the existence of extended electron delocalization over the four-membered Rh­(μ-S)2Mo ring and hence the possibility of electronic communication between the metal centers. The electronic spectra were studied with TDDFT calculations, and the main absorption band in the visible region was assigned to ν­(Rh→Mo) electron transfer transition, which is actually a HOMO–LUMO transition. The ν­(Rh→Mo) transition was found to correlate linearly both with Tolman’s electronic parameter of the phosphite ligands and the calculated HOMO–LUMO gap of the complexes, rendering it a well-defined ligand electronic parameter, which describes the net donating ability of monodentate and bidentate ligands (CO, COD, phosphites, diphosphines). The study of the variation of Δδ­(31P) and 1 J(Rh–P) of the phosphite complexes with respect to the QALE model electronic parameters χd, πp, and E ar has succeeded in the assessment of the σ and π effects on these NMR spectral parameters.