2009 Rhode Island Code
Title 44 - Taxation
CHAPTER 44-63 - Incentives for Innovation and Growth
§ 44-63-2 - Innovation credit. [Repealed effective December 31, 2016 pursuant to § 44-63-5.].
SECTION 44-63-2
§ 44-63-2 Innovation credit. [Repealed effective December 31, 2016 pursuant to § 44-63-5.]. – (a) An eligible qualified innovative company may apply to the division of taxation for a tax credit certificate in an amount equal to fifty percent (50%) of any investment made in the company, but in no case shall the amount of the tax credit certificate exceed one hundred thousand dollars ($100,000). The tax credit certificate may be issued in the name of the eligible company, or an executive employee or employees of the company, an investor in the company, or any combination thereof as requested by the company, and may be applied against state tax liability arising under chapters 44-11, 44-12, or 44-30 by the holders of the certificates. If not applied in full at the time of the next following tax filing period, the certificate(s) or the remaining value thereof may be carried forward for a period not to exceed three (3) years.
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