§ 44-14-14.2 Definitions applicable to§§ 44-14-14.1 – 44-14-14.5. – As used in §§ 44-14-14.1 – 44-14-14.5, unless the contextotherwise requires:
(a) "Billing address" means the location indicated in thebooks and records of the taxpayer on the first day of the taxable year (or onsuch later date in the taxable year when the customer relationship began) asthe address where any notice, statement and/or bill relating to a customer'saccount is mailed.
(b) "Borrower or credit card holder located in this state"means:
(1) A borrower, other than a credit card holder, that isengaged in a trade or business which maintains its commercial domicile in thisstate; or
(2) A borrower that is not engaged in a trade or business ora credit card holder whose billing address is in this state.
(c) "Commercial domicile" means:
(1) The headquarters of the trade or business, that is, theplace from which the trade or business is principally managed and directed; or
(2) If a taxpayer is organized under the laws of a foreigncountry, or of the Commonwealth of Puerto Rico, or any territory or possessionof the United States, the taxpayer's commercial domicile shall be deemed forthe purposes of this section to be the state of the United States or theDistrict of Columbia from which the taxpayer's trade or business in the UnitedStates is principally managed and directed. It shall be presumed, subject torebuttal, that the location from which the taxpayer's trade or business isprincipally managed and directed is the state of the United States or theDistrict of Columbia to which the greatest number of employees are regularlyconnected or out of which they are working, irrespective of where the servicesof the employees are performed, as of the last day of the taxable year.
(d) "Compensation" means wages, salaries, commissions and anyother form of remuneration paid to employees for personal services that areincluded in the employee's gross income under the federal Internal RevenueCode. In the case of employees not subject to the federal Internal Revenue Codee.g., those employed in foreign countries the determination of whether thepayments would constitute gross income to the employees under the federalInternal Revenue Code shall be made as though the employees where subject tothe federal Internal Revenue Code.
(e) "Credit card" means credit, travel or entertainment card;
(f) "Credit card issuer's reimbursement fee" means the fee ataxpayer receives from a merchant's bank because one of the persons to whom thetaxpayer has issued a credit card has charged merchandise or services to thecredit card.
(g) "Employee" means, with respect to a particular taxpayer,any individual who, under the usual common-law rules applicable in determiningthe employer-employee relationship, has the status of an employee of thattaxpayer.
(h) "Financial institution" means entities as defined in§ 44-14-2(2).
(i) "Gross rents" means the actual sum of money or otherconsideration payable for the use or possession of property. "Gross rents"shall include, but shall not be limited to:
(i) Any amount payable for the use or possession of realproperty or tangible property whether designated as a fixed sum of money or asa percentage of receipts, profits or otherwise;
(ii) Any amount payable as additional rent or in lieu ofrent, such as interest, taxes, insurance, repairs or any other amount requiredto be paid by the terms of a lease or other arrangement; and
(iii) A proportionate part of the cost of any improvement toreal property made by or on behalf of the taxpayer which reverts to the owneror lessor upon termination of a lease or other arrangement. The amount to beincluded in gross rents is the amount of amortization or depreciation allowedin computing the taxable income base for the taxable year. Where a building iserected on leased land by or on behalf of the taxpayer, the value of the landis determined by multiplying the gross rent by eight (8) and the value of thebuilding is determined in the same manner as if owned by the taxpayer.
(2) The following are not included in the term "gross rents";
(i) Reasonable amounts payable as separate charges for waterand electric service furnished by the lessor;
(ii) Reasonable amounts payable as service charges forjanitorial services furnished by the lessor;
(iii) Reasonable amounts payable for storage, provided theamounts are payable for space not designated and not under the control of thetaxpayer; and
(iv) That portion of any rental payment which is applicableto the space subleased from the taxpayer and not used by it.
(j) "Loan" means any extension of credit resulting fromdirect negotiating between the taxpayer and its customer, and/or the purchase,in whole or in part, of the extension of credit from another. Loans includeparticipations, syndications, and leases treated as loans for federal incometax purposes. Loans shall not include: properties treated as loans underSection 595 of the federal Internal Revenue Code, 26 U.S.C. § 595[repealed in 1996]; futures or forward contracts; options; nationalprincipal contracts such as swaps; credit card receivables, including purchasedcredit card relationships; non-interest bearing balances due from depositoryinstitutions; cash items in the process of collection; federal funds sold;securities purchased under agreements to resell; assets held in a tradingaccount; securities; interests in a REMIC, or other mortgage-backed orasset-backed security; and other similar items.
(k) "Loan secured by real property" means that fifty percent(50%) or more of the aggregate value of the collateral used to secure a loan orother obligation, when valued at fair market value as of the time the originalloan or obligation was incurred, was real property.
(l) "Merchant discount" means the fee (or negotiateddiscount) charged to a merchant by the taxpayer for the privilege ofparticipating in a program whereby a credit card is accepted in payment formerchandise or services sold to the cardholder.
(m) "Participation" means an extension of credit in which anundivided ownership interest is held on a pro rata basis in a single loan orpool of loans and related collateral. In a loan participation, the creditoriginator initially makes the loan and then subsequently resells all or aportion of it to other lenders. The participation may or may not be known tothe borrower.
(n) "Person" means individual, estate, trust, partnership,corporation and any other business entity.
(o) "Principal base of operations" with respect totransportation property, means the place of more or less permanent nature fromwhich the property is regularly directed or controlled. With respect to anemployee, the "principal base of operations" means the place of more or lesspermanent nature from which the employee regularly:
(1) States his or her work and to which he or she customarilyreturns in order to receive instruction from his or her employer; or
(2) Communicates with his or her customers or other persons;or
(3) Performs any other functions necessary to the exercise ofhis or her trade or profession at some other point or points.
(p) "Real property owned" and "tangible personal propertyowned" mean real and tangible personal property, respectively;
(1) On which the taxpayer may claim depreciation for federalincome tax purposes; or
(2) Property to which the taxpayer holds legal title and onwhich no other person may claim depreciation for federal income tax purposes(or could claim depreciation if subject to federal income tax). Real andtangible personal property do not include coin, currency, or property acquiredin lieu of or pursuant to a foreclosure.
(q) "Regular place of business" means an office at which thetaxpayer carries on its business in a regular and systematic manner and whichis continuously maintained, occupied and used by employees of the taxpayer.
(r) "State" means a state of the United State, the Districtof Columbia, the Commonwealth of Puerto Rico, any territory or possession ofthe United States or any foreign country.
(s) "Syndication" means an extension of credit in which twoor more persons fund and each person is at risk only up to a specifiedpercentage of the total extension of credit or up to a specified dollar amount.
(t) "Taxable" means either:
(1) A taxpayer is subject in another state to a net incometax, a franchise tax measured by net income, a franchise tax for the privilegeof doing business, a corporate stock tax (including a bank shares tax), asingle business tax, or an earned surplus tax, or any tax which is imposed uponor measured by net income; or
(2) Another state has jurisdiction to subject the taxpayer toany of the taxes regardless of whether, in fact, the state does or does not.
(u) "Transportation property" means vehicles and vesselscapable of moving under their own power, such as aircraft, trains, watervessels and motor vehicles, as well as any equipment or containers attached tothe property, such as rolling stock, barges, trailers or the like.
§ 44-14-14.2 Definitions applicable to§§ 44-14-14.1 – 44-14-14.5. – As used in §§ 44-14-14.1 – 44-14-14.5, unless the contextotherwise requires:
(a) "Billing address" means the location indicated in thebooks and records of the taxpayer on the first day of the taxable year (or onsuch later date in the taxable year when the customer relationship began) asthe address where any notice, statement and/or bill relating to a customer'saccount is mailed.
(b) "Borrower or credit card holder located in this state"means:
(1) A borrower, other than a credit card holder, that isengaged in a trade or business which maintains its commercial domicile in thisstate; or
(2) A borrower that is not engaged in a trade or business ora credit card holder whose billing address is in this state.
(c) "Commercial domicile" means:
(1) The headquarters of the trade or business, that is, theplace from which the trade or business is principally managed and directed; or
(2) If a taxpayer is organized under the laws of a foreigncountry, or of the Commonwealth of Puerto Rico, or any territory or possessionof the United States, the taxpayer's commercial domicile shall be deemed forthe purposes of this section to be the state of the United States or theDistrict of Columbia from which the taxpayer's trade or business in the UnitedStates is principally managed and directed. It shall be presumed, subject torebuttal, that the location from which the taxpayer's trade or business isprincipally managed and directed is the state of the United States or theDistrict of Columbia to which the greatest number of employees are regularlyconnected or out of which they are working, irrespective of where the servicesof the employees are performed, as of the last day of the taxable year.
(d) "Compensation" means wages, salaries, commissions and anyother form of remuneration paid to employees for personal services that areincluded in the employee's gross income under the federal Internal RevenueCode. In the case of employees not subject to the federal Internal Revenue Codee.g., those employed in foreign countries the determination of whether thepayments would constitute gross income to the employees under the federalInternal Revenue Code shall be made as though the employees where subject tothe federal Internal Revenue Code.
(e) "Credit card" means credit, travel or entertainment card;
(f) "Credit card issuer's reimbursement fee" means the fee ataxpayer receives from a merchant's bank because one of the persons to whom thetaxpayer has issued a credit card has charged merchandise or services to thecredit card.
(g) "Employee" means, with respect to a particular taxpayer,any individual who, under the usual common-law rules applicable in determiningthe employer-employee relationship, has the status of an employee of thattaxpayer.
(h) "Financial institution" means entities as defined in§ 44-14-2(2).
(i) "Gross rents" means the actual sum of money or otherconsideration payable for the use or possession of property. "Gross rents"shall include, but shall not be limited to:
(i) Any amount payable for the use or possession of realproperty or tangible property whether designated as a fixed sum of money or asa percentage of receipts, profits or otherwise;
(ii) Any amount payable as additional rent or in lieu ofrent, such as interest, taxes, insurance, repairs or any other amount requiredto be paid by the terms of a lease or other arrangement; and
(iii) A proportionate part of the cost of any improvement toreal property made by or on behalf of the taxpayer which reverts to the owneror lessor upon termination of a lease or other arrangement. The amount to beincluded in gross rents is the amount of amortization or depreciation allowedin computing the taxable income base for the taxable year. Where a building iserected on leased land by or on behalf of the taxpayer, the value of the landis determined by multiplying the gross rent by eight (8) and the value of thebuilding is determined in the same manner as if owned by the taxpayer.
(2) The following are not included in the term "gross rents";
(i) Reasonable amounts payable as separate charges for waterand electric service furnished by the lessor;
(ii) Reasonable amounts payable as service charges forjanitorial services furnished by the lessor;
(iii) Reasonable amounts payable for storage, provided theamounts are payable for space not designated and not under the control of thetaxpayer; and
(iv) That portion of any rental payment which is applicableto the space subleased from the taxpayer and not used by it.
(j) "Loan" means any extension of credit resulting fromdirect negotiating between the taxpayer and its customer, and/or the purchase,in whole or in part, of the extension of credit from another. Loans includeparticipations, syndications, and leases treated as loans for federal incometax purposes. Loans shall not include: properties treated as loans underSection 595 of the federal Internal Revenue Code, 26 U.S.C. § 595[repealed in 1996]; futures or forward contracts; options; nationalprincipal contracts such as swaps; credit card receivables, including purchasedcredit card relationships; non-interest bearing balances due from depositoryinstitutions; cash items in the process of collection; federal funds sold;securities purchased under agreements to resell; assets held in a tradingaccount; securities; interests in a REMIC, or other mortgage-backed orasset-backed security; and other similar items.
(k) "Loan secured by real property" means that fifty percent(50%) or more of the aggregate value of the collateral used to secure a loan orother obligation, when valued at fair market value as of the time the originalloan or obligation was incurred, was real property.
(l) "Merchant discount" means the fee (or negotiateddiscount) charged to a merchant by the taxpayer for the privilege ofparticipating in a program whereby a credit card is accepted in payment formerchandise or services sold to the cardholder.
(m) "Participation" means an extension of credit in which anundivided ownership interest is held on a pro rata basis in a single loan orpool of loans and related collateral. In a loan participation, the creditoriginator initially makes the loan and then subsequently resells all or aportion of it to other lenders. The participation may or may not be known tothe borrower.
(n) "Person" means individual, estate, trust, partnership,corporation and any other business entity.
(o) "Principal base of operations" with respect totransportation property, means the place of more or less permanent nature fromwhich the property is regularly directed or controlled. With respect to anemployee, the "principal base of operations" means the place of more or lesspermanent nature from which the employee regularly:
(1) States his or her work and to which he or she customarilyreturns in order to receive instruction from his or her employer; or
(2) Communicates with his or her customers or other persons;or
(3) Performs any other functions necessary to the exercise ofhis or her trade or profession at some other point or points.
(p) "Real property owned" and "tangible personal propertyowned" mean real and tangible personal property, respectively;
(1) On which the taxpayer may claim depreciation for federalincome tax purposes; or
(2) Property to which the taxpayer holds legal title and onwhich no other person may claim depreciation for federal income tax purposes(or could claim depreciation if subject to federal income tax). Real andtangible personal property do not include coin, currency, or property acquiredin lieu of or pursuant to a foreclosure.
(q) "Regular place of business" means an office at which thetaxpayer carries on its business in a regular and systematic manner and whichis continuously maintained, occupied and used by employees of the taxpayer.
(r) "State" means a state of the United State, the Districtof Columbia, the Commonwealth of Puerto Rico, any territory or possession ofthe United States or any foreign country.
(s) "Syndication" means an extension of credit in which twoor more persons fund and each person is at risk only up to a specifiedpercentage of the total extension of credit or up to a specified dollar amount.
(t) "Taxable" means either:
(1) A taxpayer is subject in another state to a net incometax, a franchise tax measured by net income, a franchise tax for the privilegeof doing business, a corporate stock tax (including a bank shares tax), asingle business tax, or an earned surplus tax, or any tax which is imposed uponor measured by net income; or
(2) Another state has jurisdiction to subject the taxpayer toany of the taxes regardless of whether, in fact, the state does or does not.
(u) "Transportation property" means vehicles and vesselscapable of moving under their own power, such as aircraft, trains, watervessels and motor vehicles, as well as any equipment or containers attached tothe property, such as rolling stock, barges, trailers or the like.
§ 44-14-14.2 Definitions applicable to§§ 44-14-14.1 – 44-14-14.5. – As used in §§ 44-14-14.1 – 44-14-14.5, unless the contextotherwise requires:
(a) "Billing address" means the location indicated in thebooks and records of the taxpayer on the first day of the taxable year (or onsuch later date in the taxable year when the customer relationship began) asthe address where any notice, statement and/or bill relating to a customer'saccount is mailed.
(b) "Borrower or credit card holder located in this state"means:
(1) A borrower, other than a credit card holder, that isengaged in a trade or business which maintains its commercial domicile in thisstate; or
(2) A borrower that is not engaged in a trade or business ora credit card holder whose billing address is in this state.
(c) "Commercial domicile" means:
(1) The headquarters of the trade or business, that is, theplace from which the trade or business is principally managed and directed; or
(2) If a taxpayer is organized under the laws of a foreigncountry, or of the Commonwealth of Puerto Rico, or any territory or possessionof the United States, the taxpayer's commercial domicile shall be deemed forthe purposes of this section to be the state of the United States or theDistrict of Columbia from which the taxpayer's trade or business in the UnitedStates is principally managed and directed. It shall be presumed, subject torebuttal, that the location from which the taxpayer's trade or business isprincipally managed and directed is the state of the United States or theDistrict of Columbia to which the greatest number of employees are regularlyconnected or out of which they are working, irrespective of where the servicesof the employees are performed, as of the last day of the taxable year.
(d) "Compensation" means wages, salaries, commissions and anyother form of remuneration paid to employees for personal services that areincluded in the employee's gross income under the federal Internal RevenueCode. In the case of employees not subject to the federal Internal Revenue Codee.g., those employed in foreign countries the determination of whether thepayments would constitute gross income to the employees under the federalInternal Revenue Code shall be made as though the employees where subject tothe federal Internal Revenue Code.
(e) "Credit card" means credit, travel or entertainment card;
(f) "Credit card issuer's reimbursement fee" means the fee ataxpayer receives from a merchant's bank because one of the persons to whom thetaxpayer has issued a credit card has charged merchandise or services to thecredit card.
(g) "Employee" means, with respect to a particular taxpayer,any individual who, under the usual common-law rules applicable in determiningthe employer-employee relationship, has the status of an employee of thattaxpayer.
(h) "Financial institution" means entities as defined in§ 44-14-2(2).
(i) "Gross rents" means the actual sum of money or otherconsideration payable for the use or possession of property. "Gross rents"shall include, but shall not be limited to:
(i) Any amount payable for the use or possession of realproperty or tangible property whether designated as a fixed sum of money or asa percentage of receipts, profits or otherwise;
(ii) Any amount payable as additional rent or in lieu ofrent, such as interest, taxes, insurance, repairs or any other amount requiredto be paid by the terms of a lease or other arrangement; and
(iii) A proportionate part of the cost of any improvement toreal property made by or on behalf of the taxpayer which reverts to the owneror lessor upon termination of a lease or other arrangement. The amount to beincluded in gross rents is the amount of amortization or depreciation allowedin computing the taxable income base for the taxable year. Where a building iserected on leased land by or on behalf of the taxpayer, the value of the landis determined by multiplying the gross rent by eight (8) and the value of thebuilding is determined in the same manner as if owned by the taxpayer.
(2) The following are not included in the term "gross rents";
(i) Reasonable amounts payable as separate charges for waterand electric service furnished by the lessor;
(ii) Reasonable amounts payable as service charges forjanitorial services furnished by the lessor;
(iii) Reasonable amounts payable for storage, provided theamounts are payable for space not designated and not under the control of thetaxpayer; and
(iv) That portion of any rental payment which is applicableto the space subleased from the taxpayer and not used by it.
(j) "Loan" means any extension of credit resulting fromdirect negotiating between the taxpayer and its customer, and/or the purchase,in whole or in part, of the extension of credit from another. Loans includeparticipations, syndications, and leases treated as loans for federal incometax purposes. Loans shall not include: properties treated as loans underSection 595 of the federal Internal Revenue Code, 26 U.S.C. § 595[repealed in 1996]; futures or forward contracts; options; nationalprincipal contracts such as swaps; credit card receivables, including purchasedcredit card relationships; non-interest bearing balances due from depositoryinstitutions; cash items in the process of collection; federal funds sold;securities purchased under agreements to resell; assets held in a tradingaccount; securities; interests in a REMIC, or other mortgage-backed orasset-backed security; and other similar items.
(k) "Loan secured by real property" means that fifty percent(50%) or more of the aggregate value of the collateral used to secure a loan orother obligation, when valued at fair market value as of the time the originalloan or obligation was incurred, was real property.
(l) "Merchant discount" means the fee (or negotiateddiscount) charged to a merchant by the taxpayer for the privilege ofparticipating in a program whereby a credit card is accepted in payment formerchandise or services sold to the cardholder.
(m) "Participation" means an extension of credit in which anundivided ownership interest is held on a pro rata basis in a single loan orpool of loans and related collateral. In a loan participation, the creditoriginator initially makes the loan and then subsequently resells all or aportion of it to other lenders. The participation may or may not be known tothe borrower.
(n) "Person" means individual, estate, trust, partnership,corporation and any other business entity.
(o) "Principal base of operations" with respect totransportation property, means the place of more or less permanent nature fromwhich the property is regularly directed or controlled. With respect to anemployee, the "principal base of operations" means the place of more or lesspermanent nature from which the employee regularly:
(1) States his or her work and to which he or she customarilyreturns in order to receive instruction from his or her employer; or
(2) Communicates with his or her customers or other persons;or
(3) Performs any other functions necessary to the exercise ofhis or her trade or profession at some other point or points.
(p) "Real property owned" and "tangible personal propertyowned" mean real and tangible personal property, respectively;
(1) On which the taxpayer may claim depreciation for federalincome tax purposes; or
(2) Property to which the taxpayer holds legal title and onwhich no other person may claim depreciation for federal income tax purposes(or could claim depreciation if subject to federal income tax). Real andtangible personal property do not include coin, currency, or property acquiredin lieu of or pursuant to a foreclosure.
(q) "Regular place of business" means an office at which thetaxpayer carries on its business in a regular and systematic manner and whichis continuously maintained, occupied and used by employees of the taxpayer.
(r) "State" means a state of the United State, the Districtof Columbia, the Commonwealth of Puerto Rico, any territory or possession ofthe United States or any foreign country.
(s) "Syndication" means an extension of credit in which twoor more persons fund and each person is at risk only up to a specifiedpercentage of the total extension of credit or up to a specified dollar amount.
(t) "Taxable" means either:
(1) A taxpayer is subject in another state to a net incometax, a franchise tax measured by net income, a franchise tax for the privilegeof doing business, a corporate stock tax (including a bank shares tax), asingle business tax, or an earned surplus tax, or any tax which is imposed uponor measured by net income; or
(2) Another state has jurisdiction to subject the taxpayer toany of the taxes regardless of whether, in fact, the state does or does not.
(u) "Transportation property" means vehicles and vesselscapable of moving under their own power, such as aircraft, trains, watervessels and motor vehicles, as well as any equipment or containers attached tothe property, such as rolling stock, barges, trailers or the like.
