2009 Rhode Island Code
Title 44 - Taxation
CHAPTER 44-3 - Property Subject to Taxation
§ 44-3-40 - Cities and towns Authorization to exempt retailer's inventory.
§ 44-3-40 Cities and towns Authorization to exempt retailer's inventory. (a) Each city and town, by resolution or ordinance adopted by the city or town council, may wholly or partially exempt from taxation the valuation of the stock in trade or inventory of retailers.
(b) "Retailer" means and includes a person, partnership, corporation, or other business entity engaged in the business of selling goods at retail.
(c) "Inventory" or "stock in trade" means and includes the merchandise kept on hand for sale in the normal course of business of a retailer.
(d) Nothing in this section is deemed to permit the exemption or stabilization for any retailer relocating from one city or town within the state to another.
Disclaimer: These codes may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.