Rhode Island § 44-14-14 § 44-14-14. Write-downs or reserves for security losses.

Rhode Island Statutes

§ 44-14-14 — § 44-14-14. Write-downs or reserves for security losses.

Rhode Island § 44-14-14

Title 44Taxation

Ch. 44-14Taxation of Banks

This text of Rhode Island § 44-14-14 (§ 44-14-14. Write-downs or reserves for security losses.) 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 § 44-14-14 (2026).

Text

§ 44-14-14. Write-downs or reserves for security losses.
Whenever any taxpayer by requirement of regulatory authorities having supervision
            over it, shall write down any of its securities or establish reserves for the decrease
            in values of any of its securities, the taxpayer may elect to treat the amount of
            the write-downs or reserves as deductions in the year in which they are recorded on
            its books and records as allocated to any security or group of securities, in which
            event the basis of the securities shall be adjusted to reflect the write-downs or
            reserves specifically allocated to any security, and the adjusted basis shall be used
            i

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§ 44-14-14. Write-downs or reserves for security losses.

Whenever any taxpayer by requirement of regulatory authorities having supervision over it, shall write down any of its securities or establish reserves for the decrease in values of any of its securities, the taxpayer may elect to treat the amount of the write-downs or reserves as deductions in the year in which they are recorded on its books and records as allocated to any security or group of securities, in which event the basis of the securities shall be adjusted to reflect the write-downs or reserves specifically allocated to any security, and the adjusted basis shall be used in determining gains or losses upon the sale or other disposition of the securities.