§ 44-14-15 - Dividends excluded from income. - Rhode-island Statutes

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SECTION 44-14-15

§ 44-14-15 Dividends excluded from income.– There shall not be included in a taxpayer's net income dividends received fromthe shares of stock of:

(1) Any corporation if over fifty percent (50%) of thecorporation's value was apportioned to this state in determining the tax lastimposed on it by chapter 11 of this title;

(2) Any utility if over fifty percent (50%) of the utility'sgross earnings was apportioned to this state in determining the tax lastimposed on it by chapter 13 of this title;

(3) Any banking institution liable to a tax under thischapter; and

(4) Any corporation specified in § 44-11-1(1)(vii).

State Codes and Statutes

Statutes > Rhode-island > Title-44 > Chapter-44-14 > 44-14-15

SECTION 44-14-15

§ 44-14-15 Dividends excluded from income.– There shall not be included in a taxpayer's net income dividends received fromthe shares of stock of:

(1) Any corporation if over fifty percent (50%) of thecorporation's value was apportioned to this state in determining the tax lastimposed on it by chapter 11 of this title;

(2) Any utility if over fifty percent (50%) of the utility'sgross earnings was apportioned to this state in determining the tax lastimposed on it by chapter 13 of this title;

(3) Any banking institution liable to a tax under thischapter; and

(4) Any corporation specified in § 44-11-1(1)(vii).

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-44 > Chapter-44-14 > 44-14-15

SECTION 44-14-15

§ 44-14-15 Dividends excluded from income.– There shall not be included in a taxpayer's net income dividends received fromthe shares of stock of:

(1) Any corporation if over fifty percent (50%) of thecorporation's value was apportioned to this state in determining the tax lastimposed on it by chapter 11 of this title;

(2) Any utility if over fifty percent (50%) of the utility'sgross earnings was apportioned to this state in determining the tax lastimposed on it by chapter 13 of this title;

(3) Any banking institution liable to a tax under thischapter; and

(4) Any corporation specified in § 44-11-1(1)(vii).