reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-13. - Business expenses deductible.

§ 44-14-13. Business expenses deductible.
In computing net income there shall be allowed as deductions all the ordinary and necessary expenses paid or incurred by the taxpayer during the income period in carrying on its trade or business, except United States income and excess profits taxes and the tax imposed by this chapter. Without limiting the generality of the foregoing there shall be allowed as deductions: a reasonable allowance for salaries and other compensation for personal services actually rendered; rent; repairs; bad debts; interest; taxes, except United States income and excess profits taxes and the tax imposed by this chapter; losses sustained and not compensated for by insurance or otherwise; depreciation; depletion of mines, oil and gas wells, and timber; amortization of assets; amortization of premiums on “securities” as defined in § 44-14-2(5)(ii); and contributions to any corporation, association, or fund organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, no part of the net earnings of which inures to the benefit of any private shareholder or individual.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 6; P.L. 1943, ch. 1341, § 3; P.L. 1947, ch. 1957, § 1; G.L. 1956, § 44-14-13.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-14. - Write-downs or reserves for security losses.

§ 44-14-14. Write-downs or reserves for security losses.
Whenever any taxpayer by requirement of regulatory authorities having supervision over it, shall write down any of its securities or establish reserves for the decrease in values of any of its securities, the taxpayer may elect to treat the amount of the write-downs or reserves as deductions in the year in which they are recorded on its books and records as allocated to any security or group of securities, in which event the basis of the securities shall be adjusted to reflect the write-downs or reserves specifically allocated to any security, and the adjusted basis shall be used in determining gains or losses upon the sale or other disposition of the securities.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 6; P.L. 1943, ch. 1341, § 3; P.L. 1947, ch. 1957, § 1; G.L. 1956, § 44-14-14.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-14.1. - Apportionment and allocation of income for purposes of taxation.

§ 44-14-14.1. Apportionment and allocation of income for purposes of taxation.
(a)
Except as specifically provided in this chapter a banking institution whose business activity is taxable both within and outside of this state shall allocate and apportion its net income as provided in §§ 44-14-14.1 — 44-14-14.5. A financial institution organized under the laws of a foreign country, the Commonwealth of Puerto Rico or a territory or possession of the United States whose effectively connected income (as defined under the federal Internal Revenue Code) is taxable both within this state and within another state, other than the state in which it is organized shall allocate and apportion its net income as provided in §§ 44-14-14.1 — 44-14-14.5.
(b)
All income shall be apportioned to this state by multiplying this income by the apportionment percentage. The apportionment percentage is determined by adding the taxpayer’s receipts factor (as described in § 44-14-14.3), property factor (as described in § 44-14-14.4), and payroll factor (as described in § 44-14-14.5) together and dividing the sum by three. If one of the factors is missing, the two remaining factors are added and the sum is divided by two. If two of the factors are missing, the remaining factor is the apportionment percentage. A factor is missing if both its numerator and denominator are zero, but it is not missing merely because its numerator is zero.
(c)
Each factor shall be computed according to the method of accounting (cash or accrual basis) used by the taxpayer for the taxable year.
(d)
If the allocation and apportionment provisions of §§ 44-14-14.1 — 44-14-14.5 do not fairly represent the extent of the taxpayer’s business activity in this state, the taxpayer may petition for or the tax administrator may require, in respect to all or any part of the taxpayer’s business activity, if reasonable:
(1)
The exclusion of any one or more of the factors;
(2)
The inclusion of one or more additional factors which will fairly represent the taxpayer’s business activity in this State; or
(3)
The employment of any other method to effectuate an equitable allocation and apportionment of the taxpayer’s income.
History of Section.
P.L. 1995, ch. 370, art. 34, § 5.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-14.5. - Payroll factor.

§ 44-14-14.5. Payroll factor.
(a) General.
The payroll factor is a fraction, the numerator of which is the total amount paid in this state during the taxable year by the taxpayer for compensation and the denominator of which is the total compensation paid both within and outside of this state during the taxable year. The payroll factor shall include only that compensation which is included in the computation of the apportionable income tax base for the taxable year.
(b) When compensation paid in this state.
Compensation is paid in this state if any one of the following tests, applied consecutively, is met:
(1)
The employee’s services are performed entirely within this state.
(2)
The employee’s services are performed both within and outside of the state, but the service performed outside of the state is incidental to the employee’s service within the state. The term “incidental” means any service which is temporary or transitory in nature, or which is rendered in connection with an isolated transaction.
(3)
If the employee’s services are performed both within and outside of this state, the employee’s compensation will be attributed to this state:
(i)
If the employee’s principal base of operations is within this state;
(ii)
If there is no principal base of operations in any state in which some part of the services is performed, but the place from which the services are directed or controlled is in this state; or
(iii)
If the principal base of operations and the place from which the services are directed or controlled are not in any state in which some part of the service is performed, but the employee’s residence is in this state.
History of Section.
P.L. 1995, ch. 370, art. 34, § 5.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-15. - Dividends excluded from income.

§ 44-14-15. Dividends excluded from income.
There shall not be included in a taxpayer’s net income dividends received from the shares of stock of:
(1)
Any corporation if over fifty percent (50%) of the corporation’s value was apportioned to this state in determining the tax last imposed on it by chapter 11 of this title;
(2)
Any utility if over fifty percent (50%) of the utility’s gross earnings was apportioned to this state in determining the tax last imposed on it by chapter 13 of this title;
(3)
Any banking institution liable to a tax under this chapter; and
(4)
Any corporation specified in § 44-11-1(4)(i).
History of Section.
P.L. 1942, ch. 1212, art. 7, § 6; G.L. 1956, § 44-14-15; P.L. 1994, ch. 93, § 3.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-16. - Liability of fiduciaries.

§ 44-14-16. Liability of fiduciaries.
Any receiver, liquidator, agent, trustee, assignee, conservator, or other fiduciary conducting or liquidating the business or selling the assets of any banking institution shall be subject to the provisions of and the tax imposed by this chapter in the same manner and to the same extent as if the business were being conducted or liquidated or the assets sold by the agents or officers of the banking institution.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 17; G.L. 1956, § 44-14-16.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-17. - Exemption of intangible property and stock from taxation.

§ 44-14-17. Exemption of intangible property and stock from taxation.
The intangible property and the shares of stock of any banking institution liable to a tax under this chapter shall be exempt from taxation in this state.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 7; G.L. 1956, § 44-14-17.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-18. - Payment of tax.

§ 44-14-18. Payment of tax.
Any tax imposed under the terms of this chapter shall be due and payable upon the last day upon which a return must be filed under §§ 44-14-6 and 44-14-7. Upon the filing of the return, the full amount of any tax, as computed by the taxpayer, shall be paid to the administrator.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 8; G.L. 1956, § 44-14-18.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-19. - Examination and correction of returns — Refund or credit.

§ 44-14-19. Examination and correction of returns — Refund or credit.
As soon as practicable after the return is filed, the tax administrator shall examine it and determine the correct amount of the tax and, in case any error shall be disclosed by the examination, he or she shall notify the taxpayer. The tax administrator shall give the taxpayer not less than thirty (30) days’ notice by mail of the time and place of the hearing upon the question of the correct amount of the tax. After the hearing, the taxpayer shall be given notice, by mail, by the tax administrator of the tax administrator’s determination of the correct amount of the tax. If the tax administrator determines that the taxpayer has paid a tax in excess of the amount lawfully due, the tax administrator shall allow a refund or permit a credit as provided by law. If the tax administrator shall determine that the excess payment was made in good faith, the tax administrator may make the refund with interest at the annual rate prescribed by § 44-1-7.1 from the date of the excess payment.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 8; G.L. 1956, § 44-14-19; P.L. 1992, ch. 388, § 4.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-19.1. - Claims for refund — Hearing upon denial.

§ 44-14-19.1. Claims for refund — Hearing upon denial.
(a)
Any taxpayer may file a claim for refund with the tax administrator at any time within two (2) years after the tax has been paid, or in the case of a change or correction of its taxable income by any official of the state of Rhode Island or the United States government, within two (2) years after receiving notice of the change or correction. If the tax administrator shall determine that the tax has been overpaid, he or she shall make a refund with interest at the annual rate provided by § 44-1-7.1 from the date of payment.
(b)
Any taxpayer whose claim for refund has been denied may, within thirty (30) days from the date of the mailing by the tax administrator of the notice of the decision, request a hearing and the tax administrator shall, as soon as practicable, set a time and place for the hearing and shall so notify the applicant.
History of Section.
P.L. 1977, ch. 136, § 2; P.L. 1987, ch. 57, art. 4, § 1; P.L. 1992, ch. 388, § 4; P.L. 1997, ch. 106, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-19.2. - Limitations on assessment.

§ 44-14-19.2. Limitations on assessment.
(a) General.
Except as provided in this section the amount of the excise tax shall be assessed within three (3) years after the return was filed (whether or not the return was filed on or after the prescribed date). For this purpose, a tax return filed before the due date shall be considered as filed on the due date.
(b) Exceptions.
(1)
The tax may be assessed at any time if:
(i)
No return is filed.
(ii)
A false or fraudulent return is filed with intent to avoid tax.
(2)
Where, before the expiration of the prescribed time in this section for the assessment of tax, or before the time as extended under this section, both the tax administrator and the taxpayer have consented, in writing, to its assessment after that time. The tax may be assessed at any time prior to the expiration of the agreed upon period.
(3)
An erroneous refund shall be considered to create an underpayment of tax on the date made. An assessment of a deficiency arising out of an erroneous refund may be made at any time within three (3) years thereafter, or at any time if it appears that any part of the refund was induced by fraud or misrepresentation of a material fact.
(c)
Notwithstanding the foregoing provisions of this section, the tax may be assessed at any time within six (6) years after the return was filed if a taxpayer omits from its income an amount properly includable in the return which is in excess of twenty-five percent (25%) of the amount of income stated in the return. For this purpose there shall not be taken into account any amount which is omitted in the return if the amount is disclosed in the return, or in a statement attached to the return, in a manner adequate to apprise the tax administrator of the nature and amount of the item.
(d)
The running of the period of limitations on assessment or collection of the tax or other amount (or of a transferee’s liability) shall, after the mailing of a notice of deficiency, be suspended for any period during which the tax administrator is prohibited from making the assessment or from collecting by levy, and for sixty (60) days after this.
(e)
No period of limitations specified in any other law shall apply to the assessment or collection of taxes due under this chapter.
History of Section.
P.L. 1997, ch. 106, § 2.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-20. - Interest on delinquent payments.

§ 44-14-20. Interest on delinquent payments.
If any tax imposed by this chapter is not paid when due, the taxpayer shall be required to pay as part of the tax interest thereon at the annual rate provided by § 44-1-7 from that time.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 8; G.L. 1956, § 44-14-20; P.L. 1992, ch. 388, § 4.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-21. - Lien on real estate.

§ 44-14-21. Lien on real estate.
The amount of any tax, penalty, and interest charge imposed upon any banking institution under the provisions of this chapter shall, until collected, constitute a lien upon the banking institution’s real estate located in this state, and the lien shall take precedence over any other lien or encumbrance on the real estate.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 8; G.L. 1956, § 44-14-21.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-22. - Supplemental returns.

§ 44-14-22. Supplemental returns.
Any banking institution, which fails to include in its return any items of income or any other information required by this chapter or by prescribed regulations shall make a supplemental return disclosing these facts. Any banking institution whose return to the collector of internal revenue, or whose net income returned, shall be changed or corrected by any official of the United States government in any respect affecting a tax imposed by this chapter shall, within thirty (30) days after receipt of a notification of the final adjustment and determination of the change or correction, make the supplemental return required by this section. Upon the filing of a supplemental return, the tax administrator shall examine the return and shall determine any additional tax that may be due and shall notify the taxpayer of the additional tax.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 9; G.L. 1956, § 44-14-22.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-23. - Information confidential — Types of disclosure authorized.

§ 44-14-23. Information confidential — Types of disclosure authorized.
It shall be unlawful for any state official or employee to divulge or to make known to any person in any manner not provided by law the amount or source of income, profits, losses, expenditures, or any particular set forth or disclosed in any return, or to permit any return or copy or any book containing any abstract or particulars to be seen or examined by any person except as provided by law, and it shall be unlawful for any person to print or publish, in any manner not provided by law, any return or any part or source of income, profits, losses, or expenditures appearing in any return. Any offense against the foregoing provision shall be punished by a fine not exceeding one thousand dollars ($1,000), or by imprisonment not exceeding one year, or both, at the discretion of the court. If the offender is an officer or employee of the state of Rhode Island, he or she may be dismissed from office or discharged from employment; provided, that the tax administrator may authorize the examination of the return by tax officials regularly in the employ of another state or of the federal government if a reciprocal arrangement exists. It shall be lawful for the tax administrator to publish the names of those banking institutions the shares of stock of which shall be exempt from taxation under § 44-14-17.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 10; G.L. 1956, § 44-14-23.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-24. - Power to summon witnesses.

§ 44-14-24. Power to summon witnesses.
The tax administrator may summon any banking institution, or officer, agent, or employee of the institution, or any other person to appear before him or her and produce records and documents at a time and place named in the summons and to give testimony and to answer interrogatories, under oath, respecting any matter which the tax administrator deems pertinent or material to the administration of this chapter.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 11; G.L. 1956, § 44-14-24.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-25. - Service of summons.

§ 44-14-25. Service of summons.
The summons may be sent by registered or certified mail to the banking institution, to any officer, agent, or employee of the institution, or to any other person, or may be left by any authorized agent of the tax administrator with the banking institution, or with any officer, agent, or employee of the institution, or any other person, or left at his or her last and usual place of abode. When the summons requires the production of records or documents, it shall be sufficient if the records and documents are described with reasonable certainty.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 11; impl. am. P.L. 1956, ch. 3717, § 1; G.L. 1956, § 44-14-25.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-26. - Enforcement of summons.

§ 44-14-26. Enforcement of summons.
Whenever any person or banking institution summoned under the provisions of §§ 44-14-24 and 44-14-25 neglects or refuses to obey the summons or to give testimony or to answer interrogatories as required, the tax administrator may apply to the sixth (6th) division of the district court for a citation against the person or banking institution as for contempt. Any judge of the court may hear the application and, if satisfactory proof is made, shall issue a citation for the arrest of the person, or of any officer of the banking institution, and upon the person or officer being brought before the judge, he or she shall proceed to a hearing of the case. Upon the hearing, the judge shall have power to make an order as he or she shall deem proper. A party aggrieved by an order of the court may appeal the order to the supreme court in accordance with the procedures contained in the rules of appellate procedure of the supreme court.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 11; G.L. 1956, § 44-14-26; P.L. 1976, ch. 140, § 24.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-27. - Determination of tax without return.

§ 44-14-27. Determination of tax without return.
If any banking institution fails to file a return at the time prescribed by law, the tax administrator shall proceed to determine the tax from any information the tax administrator can obtain.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 12; G.L. 1956, § 44-14-27.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-28. - Pecuniary penalty for failure to file return.

§ 44-14-28. Pecuniary penalty for failure to file return.
In case of any failure to file a return within the time prescribed by law, there shall be added to the tax five percent (5%) if the failure is for not more than thirty (30) days with an additional five percent (5%) for each additional thirty (30) days or fraction of a day during which the failure continues, not exceeding twenty-five percent (25%) in the aggregate, except that when a return is filed after the time prescribed by law, and it is shown that the failure to file the return at the prescribed time was due to reasonable cause and not due to willfull neglect, no addition to the tax shall be made.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 12; G.L. 1956, § 44-14-28.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-29. - Pecuniary penalty for false return.

§ 44-14-29. Pecuniary penalty for false return.
In case a false or fraudulent return is made with intent to evade any tax imposed by this chapter, the tax administrator shall add to the tax fifty percent (50%) of its amount.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 12; G.L. 1956, § 44-14-29.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-30. - Collection of pecuniary penalties.

§ 44-14-30. Collection of pecuniary penalties.
The amount added to any tax under §§ 44-14-28 and 44-14-29 shall be collected as a part of and at the same time and in the same manner as the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the amount added shall be collected in the same manner as the tax.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 12; G.L. 1956, § 44-14-30.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-31. - Examination of books and witnesses.

§ 44-14-31. Examination of books and witnesses.
The tax administrator, for the purpose of ascertaining the correctness of any return or for the purpose of determining the amount of any tax imposed by this chapter, may, by any of the tax administrator’s officers or employees designated by him or her for that purpose, examine any books, papers, records, or memoranda bearing upon the matters required to be included in the return, and may require the attendance of the person executing the return, or of any officer or employee of any banking institution, or the attendance of any other person, and may examine him or her, under oath, respecting any matter which the tax administrator deems pertinent or material in determining the liability of any corporation to a tax imposed by this chapter.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 13; G.L. 1956, § 44-14-31.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-32. - Penalty for violations by banks.

§ 44-14-32. Penalty for violations by banks.
Whenever any banking institution delivers or discloses or causes to be delivered or disclosed to the tax administrator any false or fraudulent return, account, or statement, with intent to defeat or evade any tax imposed under this chapter, or being summoned to appear to testify or to appear and produce books as required under this chapter, neglects to appear or to produce books, the banking institution shall be fined not exceeding ten thousand dollars ($10,000).
History of Section.
P.L. 1942, ch. 1212, art. 7, § 14; G.L. 1956, § 44-14-32; P.L. 1986, ch. 103, § 4.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-33. - Penalty for violations by individuals.

§ 44-14-33. Penalty for violations by individuals.
Whenever any person delivers or discloses or causes to be delivered or disclosed to the tax administrator any false or fraudulent return, account, or statement, with intent to defeat or evade any tax imposed under this chapter, or being summoned to appear to testify or to appear and produce books as required under this chapter, neglects to appear or to produce books, the person shall be fined not exceeding ten thousand dollars ($10,000), or be imprisoned not exceeding one year, or both.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 14; G.L. 1956, § 44-14-33; P.L. 1986, ch. 103, § 4.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-34. - Penalty for failure to file return.

§ 44-14-34. Penalty for failure to file return.
If any return or statement, including a supplemental return, required to be made under the provisions of this chapter is not made within the time fixed or extended, the corporation or any officer or agent of the corporation neglecting or refusing to make the return or statement shall be fined not exceeding ten thousand dollars ($10,000).
History of Section.
P.L. 1942, ch. 1212, art. 7, § 14; G.L. 1956, § 44-14-34; P.L. 1986, ch. 103, § 4.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-35. - Hearing on application by bank.

§ 44-14-35. Hearing on application by bank.
Any banking institution aggrieved by the action of the tax administrator in determining the amount of any tax or penalty imposed under the provisions of this chapter may apply to the tax administrator, in writing, within thirty (30) days after the notice of the action is mailed to it, for a hearing relative to the action of the tax administrator. The tax administrator shall fix a time and place for the hearing and shall notify the applicant. Upon the hearing the tax administrator shall correct manifest errors, if any, disclosed at the hearing and assess and collect the lawfully due tax together with any penalty or interest.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 15; G.L. 1956, § 44-14-35; P.L. 1962, ch. 103, § 1; P.L. 1993, ch. 459, § 4.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-36. - Appeals.

§ 44-14-36. Appeals.
Appeals from administrative orders or decisions made pursuant to any provisions of this chapter shall be to the sixth (6th) division district court pursuant to chapter 8 of title 8. The taxpayer’s right to appeal under this section shall be expressly made conditional upon prepayment of all taxes, interest, and penalties unless the taxpayer moves for and is granted an exemption from the prepayment requirement pursuant to § 8-8-26. If the court, after appeal, holds that the taxpayer is entitled to a refund, the taxpayer shall also be paid interest on the amount at the rate provided in § 44-1-7.1.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 16; G.L. 1956, § 44-14-36; P.L. 1976, ch. 140, § 24; P.L. 1982, ch. 388, §§ 3, 10; P.L. 1984, ch. 183, § 5.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-37. - Collection by writ of execution.

§ 44-14-37. Collection by writ of execution.
If any tax or penalty imposed by this chapter shall not be paid within thirty (30) days after the tax or penalty shall become due and payable, the tax administrator, in addition to any other powers provided by law, may petition the sixth (6th) division of the district court for a writ of execution, setting forth the nonpayment of the tax or penalty. The court shall appoint a time for a hearing and shall cause a reasonable notice of the hearing to be given to the adverse party, and at the time and place of the return of the notice shall proceed summarily to hear the parties. If, upon the hearing it shall appear that the tax or penalty is unpaid, the court shall immediately issue an execution for the collection of the tax or penalty, which shall run to the sheriffs, or their deputies, of the several counties of this state, and in which the officer making service of the execution shall be commanded to levy upon the property of the banking institutions as may be taken on execution. The officer properly charged with the service of the execution shall serve the execution as commanded, and shall sell the seized property as property is sold when taken on execution in actions at law, or the court shall take any other action as it may deem proper to enforce the payment of the tax by the appointment of a receiver of the property of the banking institution. A party aggrieved by a final order of the court may seek review of the order in the supreme court by writ of certiorari in accordance with the procedures contained in § 42-35-16.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 18; G.L. 1956, § 44-14-37; P.L. 1976, ch. 140, § 24.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-14 - Taxation of Banks › Section 44-14-38. - Severability.

§ 44-14-38. Severability.
If any provision of this chapter or the application of the chapter to any banking institution or circumstance is held invalid, the remainder of this chapter and the application of the provisions to the other banking institutions or circumstances shall not be affected.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 20; G.L. 1956, § 44-14-38.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-1. - Definitions.

§ 44-15-1. Definitions.
Whenever used in this chapter:
(1)
“Banking institution” means and includes a national banking association with its principal office or a branch located within the limits of this state, a state bank, trust company, savings bank (state or federal), building and loan association, and savings and loan association (state or federal), and loan and investment company organized under the laws of this state or having its principal place of business or a branch in this state:
(2)(i)
“Deposits” means and includes:
(A)
In the case of a national banking association, state bank, trust company, or savings bank (state or federal), savings deposits, participation deposits, or time deposits of any kind which bear interest or which are entitled to dividends;
(B)
In the case of a building and loan association or a savings and loan association, outstanding shares of stock of every class and however designated plus divided earnings applicable to the stock, or time deposits of any kind, but shall not include shares of stock and the divided earnings applicable, or time deposits of any kind pledged as collateral to secure mortgage loans on real estate;
(C)
In the case of a loan and investment company, deposits, or time deposits of any kind, which bear interest; also fully paid or partly paid certificates of investment, but not including payments made on investment certificates hypothecated as collateral against loans.
(ii)
“Deposits” and “time deposits” as used in subparagraphs (i)(A) — (i)(C) of this subdivision also mean and include deposits or savings made under any type of deposit or savings plan represented by certificates of deposit, savings bonds, or income certificates issued by any banking institution, or however these or similar time deposits or savings plan may be designated. “Deposits” or “time deposits” as used above shall not include any deposits of a branch or office of any banking institution located outside of this state, whether it is established de novo or acquired pursuant to an interstate merger, consolidation, or acquisition; provided, that the deposits are made at a branch or office outside of this state, or an international banking facility of any banking institution, as defined in 12 C.F.R. § 204.8, or which are payable only at an office located outside of the United States.
History of Section.
G.L. 1938, ch. 40, § 1; P.L. 1942, ch. 1212, art. 8, § 1; P.L. 1943, ch. 1342, § 1; G.L. 1956, § 44-15-1; P.L. 1958, ch. 166, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1969, ch. 207, art. 2, § 1; P.L. 1971, ch. 53, art. 2, § 1; P.L. 1972, ch. 155, art. 4, § 1; P.L. 1973, ch. 263, art. 2, § 1; P.L. 1986, ch. 410, § 1; P.L. 1987, ch. 174, § 3; P.L. 1988, ch. 269, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-1.1. - “Credit Unions” and “deposits” defined.

§ 44-15-1.1. “Credit Unions” and “deposits” defined.
Whenever used in this chapter:
(1)
“Credit union” means and includes a credit union with its principal place of business or a branch of the credit union in this state.
(2)
“Deposits” means and includes:
(i)
Shares of stock, either fully or partly paid, plus deposits or time deposits of any kind which bear interest or which are entitled to dividends. There shall be an amount excluded from taxation under the provisions of this chapter equal to the percentage of those deposits as shall equal that percentage of the daily average of the total assets of the credit union during the calendar year invested in book value of obligations of the United States, its territories and possessions and of any authority, commission, or instrumentality of the United States exempt from state taxation under the laws of the United States.
(ii)
“Deposits” and “time deposits” as used in paragraph (i) of this subdivision also means and includes deposits or savings made under any type of deposits or savings plan represented by certificates of deposits, savings bonds, or income certificates issued by any institution, or however these or similar time deposits or savings plan may be designated. “Deposits” or “time deposits” as used above shall not include any deposits of a branch or office of any credit union located outside of this state, whether it is established de novo or acquired pursuant to an interstate merger, consolidation, or acquisition; provided, that the deposits are made at a branch or office outside of this state, or any international credit union facility of any credit union, as defined in regulations of the national credit union administration or which are payable only at an office located outside of the United States.
History of Section.
P.L. 1986, ch. 410, § 2; P.L. 1987, ch. 170, § 1; P.L. 1988, ch. 269, § 1; P.L 1992, ch. 133, art. 29, § 1; P.L. 1995, ch. 370, art. 34, § 3.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-1.2. - Credit unions — Tax imposed.

§ 44-15-1.2. Credit unions — Tax imposed.
An annual tax is imposed on every credit union with total deposits in excess of one hundred fifty million dollars ($150,000,000) at a rate of six and ninety-five one hundredths cents ($.0695) on each one hundred dollars ($100) of the daily average of the deposits with the credit union during the calendar year; for those credit unions with total deposits of one hundred fifty million dollars ($150,000,000) or less the rate shall be six and one-quarter cents ($.0625) on each one hundred dollars ($100) of the daily average of deposits with the credit union during the calendar year.
History of Section.
P.L. 1986, ch. 410, § 2; P.L. 1987, ch. 170, § 1; P.L. 1992, ch. 133, art. 29, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-2. - Banking institutions — Tax imposed.

§ 44-15-2. Banking institutions — Tax imposed.
(a)
An annual tax is imposed on every banking institution at the rate of six and ninety-five one hundredths cents ($.0695) for those banking institutions with total deposits in excess of one hundred fifty million dollars ($150,000,000) and at the rate of six and one-quarter cents ($.0625) for those banking institutions with total deposits of one hundred fifty million dollars ($150,000,000) or less on each one hundred dollars ($100) of the daily average of the deposits with the banking institution during the calendar year; provided, that there shall be excluded from taxation under the provisions of this chapter the percentage of the deposits as shall equal that percentage of the daily average of the total assets of the banking institution during the calendar year as are invested in the book value of obligations of the United States, its territories and possessions and of any authority, commission, or instrumentality of the United States exempt from state taxation under the laws of the United States.
(b)
For the period January 1, 1997, through December 31, 1997, the six and ninety-five one hundredths cents rate ($.0695) shall be reduced to three and forty-eight one hundredths cents ($.0348) and the six and one-quarter cents rate ($.0625) shall be reduced to three and thirteen one hundredths cents ($.0313). For the period beginning January 1, 1998, and thereafter the tax rate shall be zero for all deposits.
History of Section.
G.L. 1896, ch. 29, §§ 3, 4; P.L. 1908, ch. 1590, §§ 79, 80; G.L. 1909, ch. 39, §§ 3, 4; P.L. 1919, ch. 1775, § 1; P.L. 1920, ch. 1905, §§ 1, 2; G.L. 1923, ch. 37, §§ 3, 4; G.L. 1938, ch. 40, §§ 1, 2; P.L. 1942, ch. 1212, art. 8, § 1; P.L. 1943, ch. 1342, § 1; G.L. 1956, §§ 44-15-2 to 44-15-4; P.L. 1958, ch. 166, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1971, ch. 8, art. 4, § 1; P.L. 1984, ch. 393, § 1; P.L. 1986, ch. 410, § 1; P.L. 1987, ch. 170, § 1; P.L. 1992, ch. 133, art. 29, § 1; P.L. 1995, ch. 370, art. 34, § 3.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-3. - Repealed.

§ 44-15-3. Repealed.
History of Section.
G.L. 1938, ch. 40, § 2; P.L. 1943, ch. 1342, § 1; P.L. 1944, ch. 1467, § 1; P.L. 1946, ch. 1801, § 1; P.L. 1947, ch. 1940, § 1; G.L. 1956, § 44-15-5; G.L. 1956, § 44-15-3; P.L. 1958, ch. 166, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1969, ch. 207, art. 2, § 2; Repealed by P.L. 1986, ch. 410, § 3. Section 4 of P.L. 1986, ch. 410 provides that the repeal of this section by that Act shall take effect upon passage (June 25, 1986), but shall be effective for taxes paid or due under this chapter on or before June 15, 1986.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-4. - Credit for franchise tax.

§ 44-15-4. Credit for franchise tax.
There shall be credited against any tax payable by any building and loan association or savings and loan association under the provisions of this chapter, the amount of any corporation franchise tax paid by it in the same year.
History of Section.
P.L. 1942, ch. 1212, art. 8, § 4; P.L. 1943, ch. 1342, § 3; G.L. 1956, § 44-15-6; G.L. 1956, § 44-15-4; P.L. 1958, ch. 166, § 1; P.L. 1968, ch. 263, art. 13, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-5. - Filing of return and reports — Determination and collection of tax — Interest on delinquencies.

§ 44-15-5. Filing of return and reports — Determination and collection of tax — Interest on delinquencies.
(a)
Each banking institution or credit union, on or before June 15 in each year, shall file a return with the tax administrator in the form and containing the information as he or she shall prescribe, and shall at the same time pay the tax imposed under this chapter.
(b)
Upon the filing of the return, the tax administrator shall examine it and determine whether the correct amount of tax has been paid and shall assess and collect any additional tax found to be due.
(c)
Any tax not paid when due shall bear interest at the annual rate provided by § 44-1-7 until paid.
(d)
Each banking institution, or credit union, on or before January 15 following the close of the taxable year, shall file a report with the tax administrator in the form and containing the information as the tax administrator shall prescribe.
History of Section.
G.L. 1896, ch. 29, §§ 3, 4; P.L. 1908, ch. 1590, §§ 79, 80; G.L. 1909, ch. 39, §§ 3, 4; P.L. 1919, ch. 1775, § 1; P.L. 1920, ch. 1905, §§ 1, 2; G.L. 1923, ch. 37, §§ 3, 4; G.L. 1938, ch. 40, §§ 1-3; P.L. 1942, ch. 1212, art. 8, § 1; G.L. 1956, §§ 44-15-5, 44-15-7; P.L. 1958, ch. 166, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1971, ch. 8, art. 4, § 2; P.L. 1986, ch. 410, § 1; P.L. 1992, ch. 133, art. 29, § 1; P.L. 1992, ch. 388, § 5.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-5.1. - Claims for refund — Hearing upon denial.

§ 44-15-5.1. Claims for refund — Hearing upon denial.
(a)
Any taxpayer may file a claim for refund with the tax administrator at any time within two (2) years after the tax has been paid. If the tax administrator shall determine that the tax has been overpaid, he or she shall make a refund with interest at the annual rate provided by § 44-1-7 from the date of payment.
(b)
Any taxpayer whose claim for refund has been denied may, within thirty (30) days from the date of the mailing by the tax administrator of the notice of the decision, request a hearing and the tax administrator shall, as soon as practicable, set a time and place for the hearing and shall notify the applicant.
History of Section.
P.L. 1977, ch. 136, § 3; P.L. 1987, ch. 57, art. 5, § 1; P.L. 1992, ch. 388, § 5.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-6. - Determination of tax without return.

§ 44-15-6. Determination of tax without return.
If any banking institution or credit union fails to file a return at the time prescribed by law, the tax administrator shall proceed to determine the tax from any information he or she can obtain.
History of Section.
G.L. 1956, §§ 44-15-5-A, 44-15-6; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1986, ch. 410, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-7. - Pecuniary penalty for failure to file report.

§ 44-15-7. Pecuniary penalty for failure to file report.
In case of any failure to file a return within the time prescribed by law, there shall be added to the tax five percent (5%) if the failure is for not more than thirty (30) days with an additional five percent (5%) for each additional thirty (30) days or fraction of the day during which the failure continues, not exceeding twenty-five percent (25%) in the aggregate, except that when a return is filed after the time prescribed by law and it is shown that the failure to file the return at the prescribed time was due to reasonable cause and not due to willfull neglect, no addition to the tax shall be made.
History of Section.
G.L. 1956, §§ 44-15-5-B, 44-15-7; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-8. - Pecuniary penalty for false return.

§ 44-15-8. Pecuniary penalty for false return.
In case a false or fraudulent return is made with intent to evade any tax imposed by this chapter, the tax administrator shall add to the tax fifty percent (50%) of its amount.
History of Section.
G.L. 1956, §§ 44-15-5-C, 44-15-8; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-9. - Collection of pecuniary penalties.

§ 44-15-9. Collection of pecuniary penalties.
The amount added to any tax under §§ 44-15-7 and 44-15-8 shall be collected as a part of and at the same time and in the same manner as the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the added amount shall be collected in the same manner as the tax.
History of Section.
G.L. 1956, §§ 44-15-5-D, 44-15-9; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-10. - Examination of books and witnesses.

§ 44-15-10. Examination of books and witnesses.
The tax administrator, for the purpose of ascertaining the correctness of any return or for the purpose of determining the amount of any tax imposed by this chapter, may, by any of the administrator’s officers or employees designated by him or her for that purpose, examine any books, papers, records, or memoranda bearing upon the matters required to be included in the return, and may require the attendance of the person executing the return, or of any officer or employee of any banking institution or credit union, or the attendance of any other person, and may examine him or her, under oath, concerning any matter which the tax administrator deems pertinent or material in determining the liability of any corporation or association to a tax imposed by this chapter.
History of Section.
G.L. 1956, §§ 44-15-5-E, 44-15-10; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1986, ch. 410, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-11. - Penalty for violations by banks.

§ 44-15-11. Penalty for violations by banks.
Whenever any banking institution or credit union delivers or discloses or causes to be delivered or disclosed to the tax administrator any false or fraudulent return, account, or statement, with intent to defeat or evade any tax imposed under this chapter, or being summoned to appear to testify or to appear and produce books as required under this chapter, neglects to appear or to produce books, the banking institution shall be fined not exceeding ten thousand dollars ($10,000).
History of Section.
G.L. 1956, §§ 44-15-5-F, 44-15-11; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1986, ch. 103, § 5; P.L. 1986, ch. 410, § 1.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-12. - Penalty for violations by individuals.

§ 44-15-12. Penalty for violations by individuals.
Whenever any person delivers or discloses or causes to be delivered or disclosed to the tax administrator any false or fraudulent return, account, or statement, with intent to defeat or evade any tax imposed under this chapter, or being summoned to appear to testify or to appear and produce books as required under this chapter, neglects to appear or to produce books, the person shall be fined not exceeding ten thousand dollars ($10,000), or be imprisoned not exceeding one year, or both.
History of Section.
G.L. 1956, §§ 44-15-5-G, 44-15-12; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1986, ch. 103, § 5.
2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-15 - Tax on Bank Deposits Generally › Section 44-15-13. - Penalty for failure to file return.

§ 44-15-13. Penalty for failure to file return.
If any return or statement required to be made under the provisions of this chapter is not made within the time fixed or extended, the corporation or association or any officer or agent of the corporation neglecting or refusing to make the return or statement shall be fined not exceeding ten thousand dollars ($10,000).
History of Section.
G.L. 1956, §§ 44-15-5-H, 44-15-13; P.L. 1960, ch. 59, § 1; P.L. 1968, ch. 263, art. 13, § 1; P.L. 1986, ch. 103, § 5.