§ 44-47-3. Limitation on credit — Carry over.
(a) A taxpayer shall be allowed a credit as provided in § 44-47-1(a)(2), (3) or (4) up to a maximum total credit of thirty thousand dollars ($30,000). The
credit shall not reduce the tax due for that year to less than one hundred dollars
($100). If the amount of credit allowable under § 44-47-1(a)(2), (3) or (4) for any taxable year reduces the tax to one hundred dollars ($100), the
balance of the credit may be claimed against the tax imposed for the next five (5)
consecutive taxable years; provided, that any balance of credit may not be claimed
for any succeeding taxable year in which the taxpayer's child da
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§ 44-47-3. Limitation on credit — Carry over.
(a) A taxpayer shall be allowed a credit as provided in § 44-47-1(a)(2), (3) or (4) up to a maximum total credit of thirty thousand dollars ($30,000). The
credit shall not reduce the tax due for that year to less than one hundred dollars
($100). If the amount of credit allowable under § 44-47-1(a)(2), (3) or (4) for any taxable year reduces the tax to one hundred dollars ($100), the
balance of the credit may be claimed against the tax imposed for the next five (5)
consecutive taxable years; provided, that any balance of credit may not be claimed
for any succeeding taxable year in which the taxpayer's child day care facility is
operated for purposes of child day care for less than six (6) months. In no event
shall the total credit amount exceed thirty thousand dollars ($30,000).
(b) A taxpayer shall be allowed a credit as provided in § 44-47-1(a)(1) up to a maximum annual credit of thirty thousand dollars ($30,000). That credit shall
not reduce the tax due for any taxable year to less than one hundred dollars ($100).
If the amount of credit allowable under § 44-47-1(a)(1) reduces the tax to one hundred dollars ($100), the balance of the credit may not
be carried over to any subsequent taxable year.