2009 Rhode Island Code
Title 44 - Taxation
CHAPTER 44-14 - Taxation of Banks
§ 44-14-15 - Dividends excluded from income.
SECTION 44-14-15
§ 44-14-15 Dividends excluded from income. – There shall not be included in a taxpayer's net income dividends received from the shares of stock of:
(1) Any corporation if over fifty percent (50%) of the corporation's value was apportioned to this state in determining the tax last imposed on it by chapter 11 of this title;
(2) Any utility if over fifty percent (50%) of the utility's gross earnings was apportioned to this state in determining the tax last imposed on it by chapter 13 of this title;
(3) Any banking institution liable to a tax under this chapter; and
(4) Any corporation specified in § 44-11-1(1)(vii).
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