Rhode Island § 44-43-4 § 44-43-4. Restrictions.

Rhode Island Statutes

§ 44-43-4 — § 44-43-4. Restrictions.

Rhode Island § 44-43-4

Title 44Taxation

Ch. 44-43Tax Incentives for Capital Investment in Small Businesses

This text of Rhode Island § 44-43-4 (§ 44-43-4. Restrictions.) 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 § 44-43-4 (2026).

Text

§ 44-43-4. Restrictions.
(a) The deduction or modification provided in § 44-43-2 and the credit provided in § 44-43-3, shall not reduce the taxes prescribed in chapters 11, 13 and 14 of this title to
            less than one hundred dollars ($100). Amounts of credits, modifications, or deductions
            shall not reduce the taxes set forth in chapters 17 and 30 of this title to less than
            zero (0).
         
(b) The credit provided in § 44-43-3 is not refundable.
         
(c) Amounts of credits, modifications, or deductions which may not be used due to the
            application of subsection (a) of this section may not

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§ 44-43-4. Restrictions.

(a) The deduction or modification provided in § 44-43-2 and the credit provided in § 44-43-3, shall not reduce the taxes prescribed in chapters 11, 13 and 14 of this title to less than one hundred dollars ($100). Amounts of credits, modifications, or deductions shall not reduce the taxes set forth in chapters 17 and 30 of this title to less than zero (0).

(b) The credit provided in § 44-43-3 is not refundable.

(c) Amounts of credits, modifications, or deductions which may not be used due to the application of subsection (a) of this section may not be carried over to the following year.

(d) In the event that the taxpayer entitled to a deduction in accordance with § 44-43-2 is a partnership, joint venture, or small business corporation, the deduction shall be divided in the same manner as income.

(e) The deduction authorized by § 44-43-2(a)(1) shall only be allowed in the computation of net income or net worth of that corporation included in a consolidated return that qualifies for the deduction and may not be used in the computation of net income or net worth of other corporations that may join in the filing of a consolidated tax return.

(f) The credit prescribed in § 44-43-3 may not be applied against the tax for which the entrepreneur is liable until all other credits available to the entrepreneur have been applied.