Rhode Island § 44-42-5 § 44-42-5. Limitation on credit.

Rhode Island Statutes

§ 44-42-5 — § 44-42-5. Limitation on credit.

Rhode Island § 44-42-5

Title 44Taxation

Ch. 44-42Education Assistance and Development Tax Credit

This text of Rhode Island § 44-42-5 (§ 44-42-5. Limitation on credit.) 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 § 44-42-5 (2026).

Text

§ 44-42-5. Limitation on credit.
The credit allowed under this chapter for any taxable year shall not reduce the tax
            due for that year to less than one hundred dollars ($100). If the amount of credit
            allowable under this chapter for any taxable year reduces the tax to one hundred dollars
            ($100), any amount of credit not deductible in that taxable year may be carried over
            to the following year or years (not to exceed five (5) years) and may be deducted
            from the taxpayer's tax for that year or years.
         

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§ 44-42-5. Limitation on credit.

The credit allowed under this chapter for any taxable year shall not reduce the tax due for that year to less than one hundred dollars ($100). If the amount of credit allowable under this chapter for any taxable year reduces the tax to one hundred dollars ($100), any amount of credit not deductible in that taxable year may be carried over to the following year or years (not to exceed five (5) years) and may be deducted from the taxpayer's tax for that year or years.