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RHODE ISLAND STATUTES AND CODES
§ 44-43-6 - Recapture.
SECTION 44-43-6
§ 44-43-6 Recapture. – (a) A taxpayer or entrepreneur which has been allowed a deduction ormodification in accordance with § 44-43-2 is required to recapture all thedeductions or modifications taken in any taxable year:
(1) In which the taxpayer or entrepreneur sells or exchangesor there is a reduction in his or her interest in a qualifying business entity;or
(2) In which there is a reduction in the taxpayer's interestin a qualifying investment in a certified venture capital partnership.
(b) Any recapture shall be limited to the proceeds resultingfrom the reduction in subsection(a) of this section. There shall be norecapture as the result of or following the death of any entrepreneur ortaxpayer. There shall be no recapture with respect to any investment held by anentrepreneur or taxpayer for at least five (5) years.