§ 44-62-5 - Limitations. - Rhode Island Statutes

SECTION 44-62-5

   § 44-62-5  Limitations. – (a) The credit shall not exceed one hundred thousand dollars ($100,000)annually per business entity.

   (b) The tax credit must be used in the tax year thecontribution was made. Any amounts of unused tax credit may not be carriedforward. The tax credit is not refundable, assignable or transferable. The taxcredit may not reduce the tax below the state minimum tax.

   (c) The credit allowed under this chapter is only allowedagainst the tax of that corporation included in a consolidated return thatqualifies for the credit and not against the tax of other corporations that mayjoin in the filing of a consolidated tax return.