§ 39-17-3 - Franchise tax payable to city or town. - Rhode Island Statutes

SECTION 39-17-3

   § 39-17-3  Franchise tax payable to city ortown. – Every corporation which shall accept exclusive rights or franchises granted byordinance or contract under the provisions of this chapter, shall make andrender to the treasurer of the town or city granting the same, on or before thethirtieth day of January, April, July, and October in every year, returns,verified by the oath of its president or treasurer, of the gross earnings ofthe corporation within the town or city for the period of three (3) months nextpreceding the first day of January, April, July, and October in the same year,and shall at the time pay to the town or city treasurer, in full payment forthe rights and franchises granted under this chapter, a special tax upon thegross earnings at a rate not exceeding three percent (3%) upon the grossearnings of the corporation within the town or city in that year.