§ 19-5-22 - Tax on deposits. - Rhode Island Statutes

SECTION 19-5-22

   § 19-5-22  Tax on deposits. – The capital stock, corporate franchises, and personal property, but not thereal estate, of credit unions shall be exempt from taxation; provided, however,that every credit union shall annually pay to the general treasurer forty cents(40¢) on each one hundred dollars ($100) deposited with the credit unionin the same manner as in financial institutions, the sums to be ascertainedfrom a report to be made by the credit union to the director or the director'sdesignee, on or before the fifteenth day in July of each year, of the totalamount of the deposits in the credit union on the last business day in June inthat year, and to be paid on or before the first Monday in August.