§ 44-30-7 Amortization of air or waterpollution control facilities. – (1) Every taxpayer, at his or her election, shall be entitled to a deductionwith respect to the amortization of the adjusted basis, for determining gain,of any "treatment facility", as defined in subsection (d) of this section,based on a period of sixty (60) months. This amortization deduction shall be anamount, with respect to each month of that period within the taxable year,equal to the adjusted basis of the facility at the end of each month divided bythe number of months, including the month for which the deduction is computed,remaining in the period. The adjusted basis at the end of the month shall becomputed without regard to the amortization deduction for that month.
(2) The amortization deduction provided in this section withrespect to any month shall be in lieu of the depreciation deduction withrespect to the facility for that month provided for under § 44-11-11. Thesixty (60) month period shall begin as to any treatment facility, at theelection of the taxpayer, with the month following the month in which thefacility was completed, or with the succeeding taxable year.
(b) Election of amortization. The election of thetaxpayer under subsection (a) of this section to take the amortizationdeduction and to begin the sixty (60) month period with the month following themonth in which the facility was completed shall be made only by a statement tothat effect in the return for the taxable year in which the facility wascompleted. The election of the taxpayer under subsection (a) of this section totake the amortization deduction and to begin that period with the taxable yearsucceeding that year shall be made only by a statement to that effect in thereturn for the succeeding taxable year.
(c) Termination of amortization deduction. A taxpayerthat has elected under subsection (b) of this section to take the amortizationdeduction provided in subsection (a) of this section may, at any time aftermaking that election, discontinue the amortization deduction with respect tothe remainder of the amortization period, the discontinuance to begin as of thebeginning of any month specified by the taxpayer in a notice, in writing, filedwith the tax administrator before the beginning of that month. The depreciationdeduction provided for under § 44-11-11 shall be allowed, beginning withthe first month as to which the amortization deduction does not apply, and thetaxpayer shall not be entitled to any further amortization deduction withrespect to the treatment facility.
(d) Treatment facility. For the purposes of thissection, "treatment facility" means any land, facility, device, building,machinery, or equipment, the construction, reconstruction, erection,installation, or acquisition of which: (i) is in furtherance of, or incompliance with, federal or state requirements or standards for the control ofwater or air pollution or contamination, (ii) has been made by the taxpayerprimarily to control the pollution or contamination of the water or the air ofthe state as defined in chapter 12 of title 46 and chapter 25 of title 23,respectively, and (iii) has been certified as approved in an order entered bythe director of the department of health. This provision shall apply only toany water and air pollution control properties and facilities that areinstalled for the treatment of waste waters and air contaminants resulting fromindustrial processing and it shall apply only to water or air pollution controlproperties and facilities placed in operation for the first time after April13, 1970.
(e) Certificate of compliance. Any taxpayer who hasadopted a "treatment facility" as defined in subsection (d) of this sectionshall be entitled to the deduction afforded in subsection (a) of this section;provided, that in no event shall an amortization deduction be allowed inrespect to any "treatment facility" for any taxable year unless an attestedcopy of the order of approval of the facility entered by the director of thedepartment of health, and a written statement of the department of healthcertifying that the installation of the facility has been completed and that itis in proper operation, are provided to the tax administrator at the time offiling of the taxpayer's return.
§ 44-30-7 Amortization of air or waterpollution control facilities. – (1) Every taxpayer, at his or her election, shall be entitled to a deductionwith respect to the amortization of the adjusted basis, for determining gain,of any "treatment facility", as defined in subsection (d) of this section,based on a period of sixty (60) months. This amortization deduction shall be anamount, with respect to each month of that period within the taxable year,equal to the adjusted basis of the facility at the end of each month divided bythe number of months, including the month for which the deduction is computed,remaining in the period. The adjusted basis at the end of the month shall becomputed without regard to the amortization deduction for that month.
(2) The amortization deduction provided in this section withrespect to any month shall be in lieu of the depreciation deduction withrespect to the facility for that month provided for under § 44-11-11. Thesixty (60) month period shall begin as to any treatment facility, at theelection of the taxpayer, with the month following the month in which thefacility was completed, or with the succeeding taxable year.
(b) Election of amortization. The election of thetaxpayer under subsection (a) of this section to take the amortizationdeduction and to begin the sixty (60) month period with the month following themonth in which the facility was completed shall be made only by a statement tothat effect in the return for the taxable year in which the facility wascompleted. The election of the taxpayer under subsection (a) of this section totake the amortization deduction and to begin that period with the taxable yearsucceeding that year shall be made only by a statement to that effect in thereturn for the succeeding taxable year.
(c) Termination of amortization deduction. A taxpayerthat has elected under subsection (b) of this section to take the amortizationdeduction provided in subsection (a) of this section may, at any time aftermaking that election, discontinue the amortization deduction with respect tothe remainder of the amortization period, the discontinuance to begin as of thebeginning of any month specified by the taxpayer in a notice, in writing, filedwith the tax administrator before the beginning of that month. The depreciationdeduction provided for under § 44-11-11 shall be allowed, beginning withthe first month as to which the amortization deduction does not apply, and thetaxpayer shall not be entitled to any further amortization deduction withrespect to the treatment facility.
(d) Treatment facility. For the purposes of thissection, "treatment facility" means any land, facility, device, building,machinery, or equipment, the construction, reconstruction, erection,installation, or acquisition of which: (i) is in furtherance of, or incompliance with, federal or state requirements or standards for the control ofwater or air pollution or contamination, (ii) has been made by the taxpayerprimarily to control the pollution or contamination of the water or the air ofthe state as defined in chapter 12 of title 46 and chapter 25 of title 23,respectively, and (iii) has been certified as approved in an order entered bythe director of the department of health. This provision shall apply only toany water and air pollution control properties and facilities that areinstalled for the treatment of waste waters and air contaminants resulting fromindustrial processing and it shall apply only to water or air pollution controlproperties and facilities placed in operation for the first time after April13, 1970.
(e) Certificate of compliance. Any taxpayer who hasadopted a "treatment facility" as defined in subsection (d) of this sectionshall be entitled to the deduction afforded in subsection (a) of this section;provided, that in no event shall an amortization deduction be allowed inrespect to any "treatment facility" for any taxable year unless an attestedcopy of the order of approval of the facility entered by the director of thedepartment of health, and a written statement of the department of healthcertifying that the installation of the facility has been completed and that itis in proper operation, are provided to the tax administrator at the time offiling of the taxpayer's return.
§ 44-30-7 Amortization of air or waterpollution control facilities. – (1) Every taxpayer, at his or her election, shall be entitled to a deductionwith respect to the amortization of the adjusted basis, for determining gain,of any "treatment facility", as defined in subsection (d) of this section,based on a period of sixty (60) months. This amortization deduction shall be anamount, with respect to each month of that period within the taxable year,equal to the adjusted basis of the facility at the end of each month divided bythe number of months, including the month for which the deduction is computed,remaining in the period. The adjusted basis at the end of the month shall becomputed without regard to the amortization deduction for that month.
(2) The amortization deduction provided in this section withrespect to any month shall be in lieu of the depreciation deduction withrespect to the facility for that month provided for under § 44-11-11. Thesixty (60) month period shall begin as to any treatment facility, at theelection of the taxpayer, with the month following the month in which thefacility was completed, or with the succeeding taxable year.
(b) Election of amortization. The election of thetaxpayer under subsection (a) of this section to take the amortizationdeduction and to begin the sixty (60) month period with the month following themonth in which the facility was completed shall be made only by a statement tothat effect in the return for the taxable year in which the facility wascompleted. The election of the taxpayer under subsection (a) of this section totake the amortization deduction and to begin that period with the taxable yearsucceeding that year shall be made only by a statement to that effect in thereturn for the succeeding taxable year.
(c) Termination of amortization deduction. A taxpayerthat has elected under subsection (b) of this section to take the amortizationdeduction provided in subsection (a) of this section may, at any time aftermaking that election, discontinue the amortization deduction with respect tothe remainder of the amortization period, the discontinuance to begin as of thebeginning of any month specified by the taxpayer in a notice, in writing, filedwith the tax administrator before the beginning of that month. The depreciationdeduction provided for under § 44-11-11 shall be allowed, beginning withthe first month as to which the amortization deduction does not apply, and thetaxpayer shall not be entitled to any further amortization deduction withrespect to the treatment facility.
(d) Treatment facility. For the purposes of thissection, "treatment facility" means any land, facility, device, building,machinery, or equipment, the construction, reconstruction, erection,installation, or acquisition of which: (i) is in furtherance of, or incompliance with, federal or state requirements or standards for the control ofwater or air pollution or contamination, (ii) has been made by the taxpayerprimarily to control the pollution or contamination of the water or the air ofthe state as defined in chapter 12 of title 46 and chapter 25 of title 23,respectively, and (iii) has been certified as approved in an order entered bythe director of the department of health. This provision shall apply only toany water and air pollution control properties and facilities that areinstalled for the treatment of waste waters and air contaminants resulting fromindustrial processing and it shall apply only to water or air pollution controlproperties and facilities placed in operation for the first time after April13, 1970.
(e) Certificate of compliance. Any taxpayer who hasadopted a "treatment facility" as defined in subsection (d) of this sectionshall be entitled to the deduction afforded in subsection (a) of this section;provided, that in no event shall an amortization deduction be allowed inrespect to any "treatment facility" for any taxable year unless an attestedcopy of the order of approval of the facility entered by the director of thedepartment of health, and a written statement of the department of healthcertifying that the installation of the facility has been completed and that itis in proper operation, are provided to the tax administrator at the time offiling of the taxpayer's return.
