Rhode Island § 35-24-5 § 35-24-5. Exemption from taxation.

Rhode Island Statutes

§ 35-24-5 — § 35-24-5. Exemption from taxation.

Rhode Island § 35-24-5

Title 35Public Finance

Ch. 35-24Rhode Island Baby Bond Trust

This text of Rhode Island § 35-24-5 (§ 35-24-5. Exemption from taxation.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 35-24-5 (2026).

Text

§ 35-24-5. Exemption from taxation.

(a) The property of the trust and the earnings on the trust shall be exempt from all taxation by the state and all political subdivisions of the state. Distributions made pursuant to § 35-24-7 shall be considered income subject to taxation in accordance with chapter 30 of title 44 and shall be subject to federal and state withholdings.

(b) The tax administrator may adopt rules and regulations necessary to monitor, implement, and administer the Rhode Island personal income tax provisions referred to in subsection

(a)of this section.

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§ 35-24-5. Exemption from taxation.

(a) The property of the trust and the earnings on the trust shall be exempt from all taxation by the state and all political subdivisions of the state. Distributions made pursuant to § 35-24-7 shall be considered income subject to taxation in accordance with chapter 30 of title 44 and shall be subject to federal and state withholdings.

(b) The tax administrator may adopt rules and regulations necessary to monitor, implement, and administer the Rhode Island personal income tax provisions referred to in subsection (a) of this section.