§ 44-14-15 - Dividends excluded from income. - Rhode Island Statutes

SECTION 44-14-15

   § 44-14-15  Dividends excluded from income.– There shall not be included in a taxpayer's net income dividends received fromthe shares of stock of:

   (1) Any corporation if over fifty percent (50%) of thecorporation's value was apportioned to this state in determining the tax lastimposed on it by chapter 11 of this title;

   (2) Any utility if over fifty percent (50%) of the utility'sgross earnings was apportioned to this state in determining the tax lastimposed on it by chapter 13 of this title;

   (3) Any banking institution liable to a tax under thischapter; and

   (4) Any corporation specified in § 44-11-1(1)(vii).