§ 44-13-2.2 - Gross earnings of certain corporations and public service companies. - Rhode Island Statutes

SECTION 44-13-2.2

   § 44-13-2.2  Gross earnings of certaincorporations and public service companies. – (a) A corporation or public service company whose principal business in thisstate is not an activity enumerated in § 44-13-4 but engages in thatactivity in this state, shall be subject to tax pursuant to this chapter asmeasured by the gross earnings derived from the activity in this state andcomputed at the rates set forth in § 44-13-4. The corporation or publicservice company shall also be subject to the tax imposed pursuant to chapter 11or 30 of this title; provided, that the gross earnings subject to tax pursuantto this section and direct and indirect costs associated with these shall beexcluded from the calculation of net income subject to tax pursuant to chapter11 or 30 of this title.

   (b) These corporations or public service companies shallmaintain records that substantiate proper calculation of net income subject totax pursuant to chapter 11 or 30 of this title and shall also maintain recordsof gross earnings subject to tax pursuant to this section and records ofassociated costs.