§ 42-64.11-4 - Partial modification of performance-based compensation. - Rhode-island Statutes

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SECTION 42-64.11-4

§ 42-64.11-4 Partial modification ofperformance-based compensation. – (a) Fifty percent (50%) of the performance-based compensation realized by aneligible employee in any credit year shall be allowed as a modificationdecreasing adjusted gross income and alternative minimum income for purposes ofthe personal income tax.

(b) The modification provided under subsection (a) shall betaken into account in determining withholding under § 44-30-71 to bededucted by a fully-certified company with respect to performance-basedcompensation paid to eligible employees.

(c) The amount of income, otherwise qualifying asperformance-based compensation, derived from employer granted stock options issubject to the fifty percent (50%) modification provided for in subsection (a)only to the extent that the same amount is subject to tax under §42-64.11-5.

State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-64-11 > 42-64-11-4

SECTION 42-64.11-4

§ 42-64.11-4 Partial modification ofperformance-based compensation. – (a) Fifty percent (50%) of the performance-based compensation realized by aneligible employee in any credit year shall be allowed as a modificationdecreasing adjusted gross income and alternative minimum income for purposes ofthe personal income tax.

(b) The modification provided under subsection (a) shall betaken into account in determining withholding under § 44-30-71 to bededucted by a fully-certified company with respect to performance-basedcompensation paid to eligible employees.

(c) The amount of income, otherwise qualifying asperformance-based compensation, derived from employer granted stock options issubject to the fifty percent (50%) modification provided for in subsection (a)only to the extent that the same amount is subject to tax under §42-64.11-5.

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State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-64-11 > 42-64-11-4

SECTION 42-64.11-4

§ 42-64.11-4 Partial modification ofperformance-based compensation. – (a) Fifty percent (50%) of the performance-based compensation realized by aneligible employee in any credit year shall be allowed as a modificationdecreasing adjusted gross income and alternative minimum income for purposes ofthe personal income tax.

(b) The modification provided under subsection (a) shall betaken into account in determining withholding under § 44-30-71 to bededucted by a fully-certified company with respect to performance-basedcompensation paid to eligible employees.

(c) The amount of income, otherwise qualifying asperformance-based compensation, derived from employer granted stock options issubject to the fifty percent (50%) modification provided for in subsection (a)only to the extent that the same amount is subject to tax under §42-64.11-5.