Section 44-30-6. – Meaning of terms.
§ 44-30-6. Meaning of terms. Any term used in the Rhode Island personal income tax law shall have the same meaning as when used in a comparable context in the laws of the United States relating to federal income taxes, unless a different meaning is clearly required. Any reference to the laws of the United […]
Section 44-30-7. – Amortization of air or water pollution control facilities.
§ 44-30-7. Amortization of air or water pollution control facilities. (a) General rule. (1) Every taxpayer, at his or her election, shall be entitled to a deduction with respect to the amortization of the adjusted basis, for determining gain, of any “treatment facility”, as defined in subsection (d) of this section, based on a period […]
Section 44-30-2.5. – Refund deduction for contribution to the Rhode Island organ transplant fund.
§ 44-30-2.5. Refund deduction for contribution to the Rhode Island organ transplant fund. (a) There shall be provided as a deduction from any refund from the Rhode Island personal income tax otherwise due to a taxpayer for a taxable year a contribution to the Rhode Island organ transplant fund. The provision for the contribution shall […]
Section 44-30-2.6. – Rhode Island taxable income — Rate of tax.
§ 44-30-2.6. Rhode Island taxable income — Rate of tax. (a) “Rhode Island taxable income” means federal taxable income as determined under the Internal Revenue Code, 26 U.S.C. § 1 et seq., not including the increase in the basic, standard-deduction amount for married couples filing joint returns as provided in the Jobs and Growth Tax […]
Section 44-30-2.7. – Capital gains rates for assets held more than five (5) years.
§ 44-30-2.7. Capital gains rates for assets held more than five (5) years. (a) All capital assets purchased prior to January 1, 2002 and sold on or after January 1, 2007, shall be deemed to have a holding period beginning January 1, 2002. For tax years beginning in 2007 and ending prior to January 1, […]
Section 44-30-2.8. – Net operating loss deduction.
§ 44-30-2.8. Net operating loss deduction. For purposes of net operating losses under this chapter, the five (5) year carryback provision provided by the Job Creation and Worker Assistance Act of 2002 (P.L. 107-147)(see 26 U.S.C. § 172) for federal tax purposes shall not be allowed for Rhode Island tax purposes. History of Section.P.L. 2002, […]
Section 44-30-2.9. – Refund deduction for contribution to the Rhode Island Military Family Relief Fund.
§ 44-30-2.9. Refund deduction for contribution to the Rhode Island Military Family Relief Fund. (a) There shall be provided as a tax deduction from any refund from the Rhode Island personal income tax otherwise due to a taxpayer for a taxable year a contribution to the Rhode Island Military Family Relief Fund. The provision for […]
Section 44-30-2.10. – Alternative flat tax rate.
§ 44-30-2.10. Alternative flat tax rate. (a) For tax years beginning on or after January 1, 2006 and ending prior to January 1, 2011, a taxpayer may elect to compute his or her Rhode Island personal income tax liability as provided in this section. If no election is made, the taxpayer’s personal income tax liability […]
Section 44-30-2.11. – Refund deduction for contribution to the substance use and mental health leadership council of RI.
§ 44-30-2.11. Refund deduction for contribution to the substance use and mental health leadership council of RI. (a) There shall be provided as a deduction from any refund from the Rhode Island personal income tax otherwise due to a taxpayer for a taxable year a contribution to the substance use and mental health leadership council […]
Section 44-30-3. – Optional tax tables for resident individuals.
§ 44-30-3. Optional tax tables for resident individuals. (a) General. The tax administrator may promulgate uniform tax tables for resident individual taxpayers for any taxable year. An individual may elect to use or not to use any tax table for which he or she is eligible. (b) Preparation of tax tables. Tax tables promulgated pursuant […]