Rhode Island § 44-14-15 § 44-14-15. Dividends excluded from income.

Rhode Island Statutes

§ 44-14-15 — § 44-14-15. Dividends excluded from income.

Rhode Island·Title 44 Taxation·Ch. 44-14 Taxation of Banks

§ 44-14-15. Dividends excluded from income.
There shall not be included in a taxpayer's net income dividends received from the
            shares of stock of:
         
(1) Any corporation if over fifty percent (50%) of the corporation's value was apportioned
            to this state in determining the tax last imposed on it by chapter 11 of this title;
         
(2) Any utility if over fifty percent (50%) of the utility's gross earnings was apportioned
            to this state in determining the tax last imposed on it by chapter 13 of this title;
         
(3) Any banking institution liable to a tax un

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§ 44-14-15. Dividends excluded from income.

There shall not be included in a taxpayer's net income dividends received from the shares of stock of:

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

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

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

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

Rhode Island § 44-14-15 (§ 44-14-15. Dividends excluded from income.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.