§ 44-42-2. Tax credit.
A taxpayer shall be allowed a credit against the tax imposed by chapters 11, 13 (except
§ 44-13-13), 14 and 17 of this title. The amount of the credit shall be eight percent (8%) of:
(1) The amount in excess of ten thousand dollars ($10,000) in any taxable year contributed
to an institution of higher education for the establishment or maintenance of a faculty
chair, department, or program for scientific research or education;
(2) The amount in excess of ten thousand dollars ($10,000) in any taxable year contributed
to an institution of higher education f
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§ 44-42-2. Tax credit.
A taxpayer shall be allowed a credit against the tax imposed by chapters 11, 13 (except
§ 44-13-13), 14 and 17 of this title. The amount of the credit shall be eight percent (8%) of:
(1) The amount in excess of ten thousand dollars ($10,000) in any taxable year contributed
to an institution of higher education for the establishment or maintenance of a faculty
chair, department, or program for scientific research or education;
(2) The amount in excess of ten thousand dollars ($10,000) in any taxable year contributed
to an institution of higher education for a work fellowship program that is providing
training connected with scientific research or education and is established by an
institution of higher education for the students of an institution; and
(3) The cost or other basis for federal income tax purposes, determined immediately prior
to the contributions, in excess of ten thousand dollars ($10,000) in any taxable year
of tangible personal property contributed to an institution of higher education for
use in an educational, training, or research program for scientific research or education
conducted by an institution in this state, excluding sale discounts and sale-gift
or similar arrangements pertaining to the purchase of equipment.