§ 44-43-2. Deduction or modification. [Effective until January 1, 2026.]
(a) In the year in which a taxpayer first makes a qualifying investment in a certified
venture capital partnership or the year in which an entrepreneur first makes an investment
in a qualifying entity, the taxpayer or the entrepreneur shall be allowed:
(1) A deduction for purposes of computing net income or net worth in accordance with chapter
11 of this title; or
(2) A deduction from gross earnings for purposes of computing the public service corporation
tax in accordance with chapter 13 of this t
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§ 44-43-2. Deduction or modification. [Effective until January 1, 2026.]
(a) In the year in which a taxpayer first makes a qualifying investment in a certified
venture capital partnership or the year in which an entrepreneur first makes an investment
in a qualifying entity, the taxpayer or the entrepreneur shall be allowed:
(1) A deduction for purposes of computing net income or net worth in accordance with chapter
11 of this title; or
(2) A deduction from gross earnings for purposes of computing the public service corporation
tax in accordance with chapter 13 of this title; or
(3) A deduction for the purposes of computing net income in accordance with chapter 14
of this title; or
(4) A deduction for the purposes of computing gross premiums in accordance with chapter
17 of this title; or
(5) A modification reducing federal adjusted gross income in accordance with chapter 30
of this title.
(b) The deduction or modification shall be in an amount equal to the taxpayer's qualifying
investment in a certified venture capital partnership or an entrepreneur's investment
in a qualifying business entity and shall be measured at the year end of the certified
venture capital partnership, the year end of the qualifying business entity, or the
year end of the investing taxpayer, whichever comes first.