Rhode Island § 44-3-37 § 44-3-37. Burrillville — Exemption and/or valuation freeze of retailer's inventory.

Rhode Island Statutes

§ 44-3-37 — § 44-3-37. Burrillville — Exemption and/or valuation freeze of retailer's inventory.

Rhode Island·Title 44 Taxation·Ch. 44-3 Property Subject to Taxation

§ 44-3-37. Burrillville — Exemption and/or valuation freeze of retailer's inventory.
(a) The town council for the town of Burrillville may, by ordinance, wholly or partially
            exempt from taxation and/or freeze the valuation of the stock in trade or inventory
            of retailers for a period of up to twenty-five (25) years.
         
(b) "Retailerâ€� means and includes a person, partnership, corporation, or other business
            entity engaged in the business of selling goods at retail.
         
(c) "Inventoryâ€� or "stock in tradeâ€� means and includes the merchandise kept on hand for
            sale in the normal c

Free access — add to your briefcase to read the full text and ask questions with AI

§ 44-3-37. Burrillville — Exemption and/or valuation freeze of retailer's inventory.

(a) The town council for the town of Burrillville may, by ordinance, wholly or partially exempt from taxation and/or freeze the valuation of the stock in trade or inventory of retailers for a period of up to twenty-five (25) years.

(b) "Retailerâ€� means and includes a person, partnership, corporation, or other business entity engaged in the business of selling goods at retail.

(c) "Inventoryâ€� or "stock in tradeâ€� means and includes the merchandise kept on hand for sale in the normal course of business of a retailer.

(d) The town council of the town of Burrillville may, by ordinance, establish the application and/or verification procedures for taxpayers to avail themselves of the benefit of any exemption or valuation freeze permitted under this section as the town council may deem necessary.

Rhode Island § 44-3-37 (§ 44-3-37. Burrillville — Exemption and/or valuation freeze of retailer's inventory.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.