§ 44-63-2 - Innovation credit. [Repealed effective December 31, 2016 pursuant to § 44-63-5.]. - Rhode-island Statutes

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Statutes > Rhode-island > Title-44 > Chapter-44-63 > 44-63-2

SECTION 44-63-2

§ 44-63-2 Innovation credit.[Repealed effective December 31, 2016 pursuant to § 44-63-5.].– (a) An eligible qualified innovative company may apply to the division oftaxation for a tax credit certificate in an amount equal to fifty percent (50%)of any investment made in the company, but in no case shall the amount of thetax credit certificate exceed one hundred thousand dollars ($100,000). The taxcredit certificate may be issued in the name of the eligible company, or anexecutive employee or employees of the company, an investor in the company, orany combination thereof as requested by the company, and may be applied againststate tax liability arising under chapters 44-11, 44-12, or 44-30 by theholders of the certificates. If not applied in full at the time of the nextfollowing tax filing period, the certificate(s) or the remaining value thereofmay be carried forward for a period not to exceed three (3) years.

State Codes and Statutes

Statutes > Rhode-island > Title-44 > Chapter-44-63 > 44-63-2

SECTION 44-63-2

§ 44-63-2 Innovation credit.[Repealed effective December 31, 2016 pursuant to § 44-63-5.].– (a) An eligible qualified innovative company may apply to the division oftaxation for a tax credit certificate in an amount equal to fifty percent (50%)of any investment made in the company, but in no case shall the amount of thetax credit certificate exceed one hundred thousand dollars ($100,000). The taxcredit certificate may be issued in the name of the eligible company, or anexecutive employee or employees of the company, an investor in the company, orany combination thereof as requested by the company, and may be applied againststate tax liability arising under chapters 44-11, 44-12, or 44-30 by theholders of the certificates. If not applied in full at the time of the nextfollowing tax filing period, the certificate(s) or the remaining value thereofmay be carried forward for a period not to exceed three (3) years.

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State Codes and Statutes

Statutes > Rhode-island > Title-44 > Chapter-44-63 > 44-63-2

SECTION 44-63-2

§ 44-63-2 Innovation credit.[Repealed effective December 31, 2016 pursuant to § 44-63-5.].– (a) An eligible qualified innovative company may apply to the division oftaxation for a tax credit certificate in an amount equal to fifty percent (50%)of any investment made in the company, but in no case shall the amount of thetax credit certificate exceed one hundred thousand dollars ($100,000). The taxcredit certificate may be issued in the name of the eligible company, or anexecutive employee or employees of the company, an investor in the company, orany combination thereof as requested by the company, and may be applied againststate tax liability arising under chapters 44-11, 44-12, or 44-30 by theholders of the certificates. If not applied in full at the time of the nextfollowing tax filing period, the certificate(s) or the remaining value thereofmay be carried forward for a period not to exceed three (3) years.