reglab/statecodes huggingface dataset:
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 15 - Cigarette Tax › Part 2 - Other Tobacco Products (280-RICR-20-15-2) › Section 280-RICR-20-15-2.12 - Destruction of Other Tobacco Products

Current through June 14, 2024
In the event that the taxpayer is unable or unwilling to
					 provide valid records/invoices to evidence tax paid on the seized contraband,
					 the contraband shall be destroyed in any manner deemed appropriate by the Tax
					 Administrator pursuant to R.I. Gen. Laws §
										44-20-15(b).
					 If a Dealer contests a Notice of Deficiency Determination within thirty (30)
					 days, no seized Other Tobacco Products will be destroyed while the matter is
					 pending hearing. All seized contraband may be stored at any facility or
					 location the Tax Administrator deems appropriate.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 15 - Cigarette Tax › Part 2 - Other Tobacco Products (280-RICR-20-15-2) › Section 280-RICR-20-15-2.13 - Appeals

Current through June 14, 2024
A. Any Person aggrieved by a Notice of
				 Deficiency Determination issued by the Tax Administrator is entitled to an
				 administrative hearing. In order to request this hearing, the taxpayer must
				 notify the Tax Administrator in writing within thirty (30) days from the date
				 of the Notice of Deficiency Determination. The Tax Administrator shall, as soon
				 as practicable, set a time and place for hearing, and shall render a final
				 decision. The administrative hearing is the taxpayer's opportunity to present
				 valid records/invoices, as detailed above in §
										2.8     of this Part, evidencing
				 tax paid on the seized items.
B.
				 Appeals from a final decision of the Tax Administrator shall be to the Rhode
				 Island Sixth (6th) Division District Court pursuant to R.I. Gen. Laws §
										8-8-1 et seq. The taxpayer's right to appeal to the district court is expressly made
				 conditional upon prepayment of all taxes, interest, and penalties, unless the
				 taxpayer files a timely motion for exemption from prepayment with the district
				 court in accordance with the requirements imposed pursuant to R.I. Gen. Laws
				 §
										8-8-26.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 15 - Cigarette Tax › Part 2 - Other Tobacco Products (280-RICR-20-15-2) › Section 280-RICR-20-15-2.14 - Effective Date

Current through June 14, 2024
A. This regulation
				 shall take effect August 1, 2014
B.
				 Filed: April 24, 2017
C. Neena S.
				 Savage, Tax Administrator
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 1 - Investment Tax Credit (280-RICR-20-20-1) › Section 280-RICR-20-20-1.1 - Authority and Purpose

Current through June 14, 2024
A. Effective
				 January 1, 1998 the investment tax credit statute (R.I. Gen. Laws Chapter 44-31
				) was extended to provide a ten percent (10%) tax credit to manufacturers and
				 certain non-manufacturers ("qualified taxpayers") which meet statutorily
				 defined criteria. The investment tax credit was further extended on June 30,
				 1999 to provide the ten percent (10%) tax credit to property having a situs in
				 Rhode Island however acquired by "qualified taxpayers" which are property and
				 casualty insurance companies.
B.
				 The investment tax credit was increased from four percent (4%) to ten percent
				 (10%) with respect to buildings and structural components which are acquired,
				 constructed, reconstructed or erected after July 1, 2001 for "high performance
				 manufacturers".
C. This regulation
				 is set out in two (2) parts. The first part of the regulation deals with
				 manufacturers that meet the criteria for the four percent (4%) tax credit. The
				 second part of the regulation deals with manufacturers and non-manufacturers
				 which meet the statutory criteria for the ten percent (10%) tax
				 credit.
D. In general, provisions
				 applicable to manufacturers in §
										1.2     of this Part are deemed
				 applicable to "qualified taxpayers" in §
										1.3     of this Part unless law
				 or regulations in §
										1.2     of this Part mandate
				 otherwise.
E. Documentation and
				 Information Required
1. Taxpayers seeking
				 credit as "manufacturers or qualified taxpayers" must complete the Form RI-3468
				 and must attach copies of calculations and documents evidencing satisfaction of
				 the special criteria required for "qualified taxpayers" including but not
				 limited to letters documenting training expenses from the Human Resource
				 Investment Council, documenting wage information from the Rhode Island
				 Department of Labor and Training, and calculations pertaining to wages or gross
				 revenues.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 1 - Investment Tax Credit (280-RICR-20-20-1) › Section 280-RICR-20-20-1.2 - Manufacturers

Current through June 14, 2024
A. A taxpayer shall be allowed an investment
				 tax credit computed in accordance with R.I. Gen. Laws §
										44-31-1 against the business corporation tax or the personal income tax as imposed by
				 R.I. Gen. Laws Chapters 44-11 and 44-30, respectively, on tangible personal
				 property and other tangible property, including buildings and structural
				 components of buildings acquired, constructed, reconstructed or erected for use
				 principally by the taxpayer in the production of goods by manufacturing,
				 processing or assembling. The investment tax credit shall be allowed against
				 the business corporation tax computed on the basis of net income or net worth
				 apportioned to Rhode Island, provided, however, that an investment tax credit
				 will be allowed against the tax of only that corporation, included in a
				 consolidated state tax return, that qualifies for the credit and will not be
				 allowed against the tax of other corporations that may join in the filing of a
				 consolidated state tax return with such corporation.
B. The investment tax credit shall be allowed
				 on qualifying property acquired, constructed, reconstructed or erected after
				 December 31, 1973 and first placed in service in this state during a taxable
				 year beginning on or after July 1, 1974. A taxpayer placing otherwise
				 qualifying property in service during a taxable year beginning prior to July 1,
				 1974 shall not be allowed a credit in the year placed in service nor shall the
				 taxpayer be allowed a carryforward to any subsequent year.
C. In order to qualify for this credit, the
				 property must:
1. Be depreciable pursuant to
				 Internal Revenue Code,
				  26 U.S.C. §
												167;
2. Have a useful life of 4 years or
				 more;
3. Be acquired by purchase as
				 defined in to Internal Revenue Code,
				  26 U.S.C. §
												179(d);
4. Have a situs in this state at the date
				 first placed in service by the taxpayer; and
5. Be principally used by the taxpayer in the
				 production of goods by manufacturing, processing or assembling, as hereinafter
				 described.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 2 - Research and Development Expenses Credit (280-RICR-20-20-2) › Section 280-RICR-20-20-2.1 - General

Current through June 14, 2024
A credit is available to corporations, sole proprietors, or
					 passed through from partnerships, joint ventures or subchapter S corporations
					 for qualified research expenses. The credit is 5% of the excess (if any) of the
					 qualifying research expenses in the taxable year over the base period expenses.
					 The expenses must have been incurred in Rhode Island after July 1, 1994. For
					 periods January 1, 1998 and thereafter, the credit is 22.5% for expenses up to
					 $111,111 and 16.9% for the remaining expenses over $111,111.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 2 - Research and Development Expenses Credit (280-RICR-20-20-2) › Section 280-RICR-20-20-2.2 - Definitions

Current through June 14, 2024
The terms "qualified research expenses" and "base period
					 research expenses" shall have the same meaning as defined in section 41 of the
					 Internal Revenue Code (26 U.S.C. §
											41),  provided, however, that such expenses
					 shall have been incurred in this state after July 1, 1994.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 2 - Research and Development Expenses Credit (280-RICR-20-20-2) › Section 280-RICR-20-20-2.3 - Calculation of the Credit

Current through June 14, 2024
A. The credit is
				 based on the amount of the taxpayer's Federal excess expenses and is calculated
				 by first determining what of the taxpayer's Federal excess expenses were
				 incurred in Rhode Island after July 1, 1994 and then multiplying that amount by
				 the 5% rate to yield the Rhode Island credit. For periods January 1, 1998 and
				 thereafter, the credit is 22.5% on the expenses up to $111,111 and 16.9% for
				 the remaining expenses over $111,111.
B. EXAMPLES
2. Taxpayer A has completed and claimed its
				 Federal Section 41 credit and has qualified research expenses for its Federal
				 credit of $100,000; its Federal Section 41 base amount is $75,000; all expenses
				 were incurred in Rhode Island and were incurred evenly throughout 1995 and A
				 has a calendar year end. Taxpayer A's 1995 RI R & D expense credit is
				 calculated as:
Federal Qualified Research Expenses
$100,000
Federal Base Amount
75,000
Federal Excess Expenses
25,000
Amount of Federal Excess Expenses in RI
25,000
Amount of Expenses in RI after 7/1/94
25,000
Credit @ 5%
$1,250
2.
				 Taxpayer B has a similar fact pattern to Taxpayer A above, except that Taxpayer
				 B has a March 31 year end. Taxpayer B's FYE 3/31/95 RI R & D expense credit
				 is calculated as:
Federal Excess Expenses
$25,000
Amount of Federal Excess Expenses in RI
25,000
Amount of Expenses in RI after 7/1/94 (9
								mos.)
18,750
Credit @ 5%
$938
3.
				 Taxpayer C has a similar fact pattern to Taxpayer A above except that the
				 excess federal expenses were specifically identified as $9,000 in August in
				 Connecticut and $16,000 in October in Rhode Island. Taxpayer C's calendar year
				 1995 RI R & D expense credit is calculated as:
Federal Excess Expenses
$25,000
Amount of Federal Excess Expenses in RI
16,000
Amount of Expenses in RI after 7/1/94
								(Specific)
16,000
Credit @ 5%
$800
4.
				 Taxpayer D has a similar fact pattern to Taxpayer B above except that the
				 excess federal expenses were specifically identified as $9,000 in August in
				 Connecticut, $7,000 in May 1994 and $9,000 in October in Rhode Island. Taxpayer
				 C's f/y/e 3/31/95 RI R & D expense credit is calculated as:
Federal Excess Expenses
$25,000
Amount of Federal Excess Expenses in RI
16,000
Amount of Expenses in RI after 7/1/94
								Specific
9,000
Credit @ 5%
$450
5.
				 Taxpayer E has $135,000 of qualified expenses in tax year 2000. The credit is
				 calculated at 22.5% of the first $111,111 and 16.9% of the remaining expenses
				 over $111,111. The credit is $29,037 [$111,111 @ .225% or $25,000] plus $4,037
				 [16.9% of the remaining $23,889].
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 2 - Research and Development Expenses Credit (280-RICR-20-20-2) › Section 280-RICR-20-20-2.4 - Minimum Tax and Carryover

Current through June 14, 2024
In the case of corporations, the credit allowed shall not
					 reduce the tax due to less than the minimum fixed by R.I. Gen. Laws §
										44-11-2(e);
					 however, if the amount of credit allowable reduces the tax to the minimum fixed
					 by R.I. Gen. Laws §
										44-11-2(e),
					 any amount of credit not used may be carried over to a maximum of seven (7)
					 years. For purposes of R.I. Gen. Laws Chapter 44-30 (Personal Income Tax), if
					 the credit allowed exceeds the taxpayer's tax, the amount of credit not used
					 may be carried over to a maximum of seven (7) years.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 2 - Research and Development Expenses Credit (280-RICR-20-20-2) › Section 280-RICR-20-20-2.5 - Limitation and Order of Credits

Current through June 14, 2024
A. For purposes of
				 determining the order in which carry-overs shall be taken into consideration,
				 the credit allowed by R.I. Gen. Laws §
										44-32-2 (credit for research and development property) shall be used before the credit
				 described in this regulation. The investment tax credit allowed by R.I. Gen.
				 Laws §
										44-31-1 shall be used before the credit described in this regulation.
B. The credit is limited to one-half the tax
				 otherwise payable after all other credits available to the taxpayer have been
				 used.
1. Taxpayer F has RI tax of $50,000,
				 Enterprise Zone Business Credit of $15,000, Investment credit [10% type] of
				 $20,000 and R & D credit of $10,000. The 10% type investment credit also
				 carries the one-half tax limit [see R.I. Gen. Laws §44-30-31-1(d)] but
				 the R & D expense credit law specifically provides that, in the ordering of
				 the credits, any investment credit will be used before this credit. In the
				 ordering of credit, Taxpayer F calculates:
Tax
$50,000
Enterprise Zone Credit
15,000
Tax Payable
35,000
10% Investment Credit Limit (1/2 Tax
								Payable)
17,500
R & D Expense Credit Limit (1/2 Tax
								Payable
8,750
Tax
$8,750
a. Both the
				 remaining $2,500 of 10% investment credit and $1,250 of R & D Expense
				 Credit can be carried forward but continue to be subject to the same order and
				 one-half limitation
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 2 - Research and Development Expenses Credit (280-RICR-20-20-2) › Section 280-RICR-20-20-2.6 - Consolidated Returns

Current through June 14, 2024
The credit allowed shall only be allowed against the tax of
					 that corporation included in a consolidated return that qualifies for the
					 credit and not against the tax of other corporations that may join in the
					 filing of a consolidated return.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 2 - Research and Development Expenses Credit (280-RICR-20-20-2) › Section 280-RICR-20-20-2.7 - Division of the Credit

Current through June 14, 2024
In the event the taxpayer is a partnership, joint venture
					 or small business corporation, the credit shall be divided in the same manner
					 as income.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.1 - Authority

Current through June 14, 2024
In accordance with R.I. Gen. Laws §
										44-33.2-4, as
					 amended by the General Assembly, the Tax Administrator of the Division of
					 Taxation, Department of Revenue and the Executive Director of Historical
					 Preservation and Heritage Commission (the Commission), hereby promulgate the
					 following regulation, on a joint basis, to implement the provisions of State
					 law.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.2 - General Overview of Changes

Current through June 14, 2024
A. R.I. Gen. Laws
				 Chapter 44-33.2 divides projects into three (3) groups and afford them
				 different treatment depending upon what stage the project has reached as of
				 January 1, 2008.
1. All projects placed in
				 service prior to January 1, 2008 will receive the current 30% tax credit
				 provided that processing fees are paid to the Division of Taxation (Tax
				 Division) on or before May 15, 2008. Projects that fail to make payment by May
				 15, 2008 will not be eligible to receive tax credits.
2. Most projects that are already in progress
				 may continue but with a reduced credit amount and higher fee. Projects which
				 have submitted Part 1 of their application to the Commission prior to January
				 1, 2008 will have the option of continuing under the new rules.
a. Projects that wish to continue in the
				 program must pay a processing fee ranging from 3% to 5% of Qualified
				 Rehabilitation Expenditures, with 2.25% of Qualified Rehabilitation
				 Expenditures due on or before May 15, 2008, and the balance due on or before
				 March 5, 2009.
b. Projects may opt
				 for one of the following combinations of processing fees and tax credits:
(1) 27% credit with a 5% processing
				 fee
(2) 26% credit with a 4%
				 processing fee
(3) 25% credit with
				 a 3% processing fee
c.
				 All projects continuing in the program will enter into a contract with the Tax
				 Division stating the estimated amount of Qualified Rehabilitation Expenditures
				 for the project, the tax credit percentage, and the amount of fees. The
				 contract will constitute a State guaranty that the stated amount of tax credits
				 will be available when earned. Projects will not be allowed to claim additional
				 tax credits based on an increase in the Qualified Rehabilitation Expenditures.
				 If final Qualified Rehabilitation Expenditures should be less than the amount
				 stated in the contract, overpayment of fees will be refunded by the Tax
				 Division. If a project is abandoned prior to its placement in service as
				 provided in §
												3.5(D)(1)(f)     of this Part, the entire fees paid will be refunded upon compliance with the
				 procedures provided in §
												3.5(D)(1)(f)     ((2)) of this Part.
d. Upon
				 completion of the project, Part 3 of the application must be submitted to
				 Commission for certification that the rehabilitation is consistent with
				 specified standards and a detailed statement of costs, which must be certified
				 by a certified public accountant licensed in Rhode Island, must be filed with
				 the Tax Division.
3.
				 Projects that submitted a Part 1 application to the Commission after December
				 31, 2007 will not be eligible for tax credits.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.3 - Definitions

Current through June 14, 2024
A. "Accountant's certification" means the
				 certification of a certified public accountant licensed in the State of Rhode
				 Island containing the information required in the Application for an Assignable
				 Historic Preservation Investment Tax Credit Certificate. The Accountant's
				 Certification includes but is not limited to certification of the Adjusted
				 Basis at the beginning of the Rehabilitation, the Rehabilitation costs properly
				 capitalized to the building, project costs incurred but not eligible for the
				 Historic Preservation Investment Tax Credit such as costs for new construction
				 and other costs not chargeable to capital account. The Accountant's
				 Certification shall be completed in the form of the Tax Division's Form
				 HTC-8016 and shall be accompanied by an opinion of the Accountant regarding the
				 accuracy of the required information. The cost certification should include,
				 but not limited to:
1. A Schedule of
				 Development Costs (separating costs eligible for tax credit from costs not
				 eligible for tax credit) and Calculation of Historic Tax Credit Basis based on
				 documentation from the project.
2.
				 Verification of the existence of Development costs by examination of invoices,
				 canceled checks, settlements sheet and related documents.
3. Review of the respective development cost
				 to determine whether the cost were eligible to be included in historic tax
				 credit basis in accordance with R.I. Gen. Laws Chapter 44-33.2.
4. Calculation of the Substantial
				 Rehabilitation Test in accordance with R.I. Gen. Laws §
											44-33.2-2(8).
5. Computation of tax credits to be realized
				 by the project based upon the determination of historic tax credit
				 basis.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.4 - Tax Credit

Current through June 14, 2024
A. General. A
				 Person that incurs Qualified Rehabilitation Expenditures for the Substantial
				 Rehabilitation of a Certified Historic Structure certified in accordance with
				 these Regulations is entitled to a credit against the tax imposed on such
				 Person pursuant to R.I. Gen. Laws Chapter 44-11, 44-13 (other than the tax
				 imposed under R.I. Gen. Laws §
										44-13-13), 44-14, 44-17 or 44-30. The Initial Certificate Holder or the Assignee of
				 such Person may also claim the Credit in accordance with these
				 Regulations.
B. Amount of Credit.
1. For Certified Historic Structures or some
				 identifiable portion thereof that are Placed in Service prior to January 1,
				 2008, the Historic Preservation Investment Tax Credit is equal to thirty
				 percent (30%) of the Qualified Rehabilitation Expenditures.
2. For Certified Historic Structures or some
				 identifiable portion thereof that are Placed in Service after December 31, 2007
				 for which a Part 1 Application was recorded as received by the Commission
				 before January 1, 2008, the Historic Preservation Investment Tax Credit can
				 range between twenty five percent (25%) and twenty seven percent (27%) of the
				 Qualified Rehabilitation Expenditures set forth in the Contract.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.5 - Application Guidelines

Current through June 14, 2024
A. Certifications
				 of Significance and Rehabilitation - General.
1. Application Request for designation of a
				 building as a Certified Historic Structure and of a proposed Rehabilitation
				 shall be made on the Historic Preservation Certification Application forms.
a. Part 1 of the application, Evaluation of
				 Significance, is used to request certification of historic significance and is
				 filed with the Commission and shall contain such information as is required in
				 §
												3.5(B)(2)     of this Part.
b.
				 Part 2 of the application, Description of Rehabilitation, is used to request
				 certification of a proposed Rehabilitation as meeting the Standards for
				 Rehabilitation. Part 2 of the application must be filed with the Commission
				 prior to the Certified Historic Structure being Placed-in-Service and shall
				 contain such information as is required in §
												3.5(D)(1)     of this
				 Part.
c. Part 3 of the application,
				 Request for Certification of a Completed Work, is used to request certification
				 of completed Rehabilitation project by the Commission.
d. The Part 1, Part 2 and Part 3 application
				 are reviewed by the Commission.
e.
				 In order to obtain an Assignable Historic Preservation Investment Tax Credit
				 Certificate upon issuance by the Commission of the Certificates of Completed
				 Work, the Owner shall file with the Tax Division a copy of the Accountant's
				 Certification and the Certificate of Completed Work. The Owner shall also file
				 with the Tax Division a complete adequately documented RI Form HTC -
				 8016.
f. The Owner must also enter
				 into a Contract with the Tax Division and pay the Processing Fee described in
				 §
												3.2(A)(2)(b)     of this Part in order to qualify for tax credits.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.7 - Determination of Credit

Current through June 14, 2024
A. The amount of
				 the Credit shall be determined by multiplying the total amount of Qualified
				 Rehabilitation Expenditures incurred in connection with the plan of
				 Rehabilitation times the appropriate percentage as elected in the Contact.
				 Qualified Rehabilitation Expenditures may include expenses in connection with
				 the Rehabilitation which were incurred prior to the start of Rehabilitation or
				 of the Measuring Period. Further, Qualified Rehabilitation Expenditures may
				 include expenses incurred prior to completion of a formal plan of
				 Rehabilitation provided the expenses were incurred in connection with the
				 Rehabilitation which was completed.
B. The Tax Division shall certify the amount
				 of Qualified Rehabilitation Expenditures. In the case of multiple Phased
				 Projects, the Tax Division shall certify the amount of Qualified Rehabilitation
				 Expenditures for each phase.
C. The
				 Tax Division shall also issue an Assignable Historic Preservation Investment
				 Tax Credit Certificate, which shall certify as to the amount of Historic
				 Preservation Investment Tax Credit for which the Substantial Rehabilitation
				 qualifies as more fully provided in §
										3.8     of this Part.
D. The Tax Division may rely without
				 independent investigation on the Accountant's Certification as to the amount of
				 Qualified Rehabilitation Expenditures actually incurred and the satisfaction of
				 Substantial Rehabilitation test. However, the Tax Division reserves the right
				 to review such Certifications and to audit the original documents of entry,
				 vendor lists, payroll records, accounts or other records supporting such
				 Accountant's Certifications.
E. If
				 the amount of the Credit exceeds the taxpayer's tax liability for the taxable
				 year in which the Credit may be claimed, the amount that exceeds the tax
				 liability may be carried over for credit against the income taxes of such
				 taxpayer for the next ten taxable years or until the full Credit is used,
				 whichever occurs first.
F. In the
				 case of a corporation, the Historic Preservation Investment Tax Credit is only
				 allowed against the tax of a corporation included in a consolidated return that
				 qualifies for the Credit and not against the tax of other corporations that may
				 join in the filing of a consolidated tax return.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.9 - Processing fees and Contracts of Guaranty

Current through June 14, 2024
A.
				 Project Currently in Progress-Contract with the Tax Division.
1. For Certified Historic Structures or some
				 identifiable portion thereof that are Placed-in-Service after December 31,
				 2007:
a. The Part 1 'Application for
				 Certification as a Historic Structure' must have been recorded as being
				 received by the Commission prior to January 1, 2008;
b. The Processing Fees referenced in R.I.
				 Gen. Laws §
												44-33.2-3(b) 
				 of the Act shall be paid to the Tax Division by May 15, 2008;
c. Upon the payment of those fees, the Person
				 that will incur Qualified Rehabilitation Expenditures shall enter into a
				 Contract with the Tax Division;
d.
				 At the signing of the Contract, the Person that will incur Qualified
				 Rehabilitation Expenditures shall select the percentage of tax credits and
				 Processing Fees, as outlined in R.I. Gen. Laws §
												44-33.2-3(b),
				 for any Certified Historic Structure or identifiable part thereof that will be
				 Placed-in-Service after December 31, 2007;
e. The Contract will guarantee the amount of
				 tax credit as the lesser of:
(1) the amount
				 specified in the Contract, or
(2)
				 the actual Qualified Rehabilitation Expenditures multiplied by the tax credit
				 percentage selected by the Person at the signing of the Contract;
f. Due dates for payment of fees:
(1) Two and one quarter percent (2.25%) of
				 the Qualified Rehabilitation Expenses shall be paid to the Tax Division by May
				 15, 2008 and the remaining percentage of the Processing Fees shall be paid on
				 or before March 5, 2009. Untimely payments shall accrue interest in accordance
				 with R.I. Gen. Laws §
													44-1-7.
(2) Payment of the Processing Fees and
				 compliance with the requirements of this regulation shall guarantee 100 percent
				 of the credit.
g. The
				 Contract shall be assignable:
(1) to an
				 Affiliate of the Person incurring the Qualified Rehabilitation Expenditures,
				 without consent from the Tax Division, or
(2) to some other Person or business entity
				 incurring Qualified Rehabilitation Expenditures. Such assignments are subject
				 to the approval of the Tax Division, which approval shall not be unreasonably
				 withheld
h. The Tax
				 Division shall reconcile the actual amount of tax credits as part of the final
				 project certification. If the Processing Fees paid upon Contract signing are
				 greater than required, based on the actual Qualified Rehabilitation
				 Expenditures, the appropriate difference shall be refunded to the Person that
				 incurred the Qualified Rehabilitation Expenditures, without interest.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 3 - Historic Structures Tax Credit (280-RICR-20-20-3) › Section 280-RICR-20-20-3.10 - Restrictive Covenant: Recapture

Current through June 14, 2024
A. Restrictive
				 Covenant. Upon issuance of a Certificate of Completed Work, the Owner shall
				 cause to be recorded in the applicable land evidence records a restrictive
				 covenant pursuant to which,
1. during the
				 Holding Period, no alteration to the Certified Historic Structure will be made
				 without the Commission's approval and in a manner consistent with the Standards
				 for Rehabilitation;
2. the
				 Certified Historic Structure may not become Exempt from Real Property Tax;
				 and
3. the Commission and/or the
				 Tax Division shall be granted the right to one or more Inspections during the
				 Holding Period to confirm matters represented in the Historic Preservation
				 Certification Application and to review any alterations. If the Owner is the
				 holder of leasehold title, the fee owner of the Certified Historic Structure
				 must also execute the Restrictive Covenant.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.1 - Purpose

Current through June 14, 2024
These rules and regulations implement R.I. Gen. Laws
					 Chapter 44-30.3. That chapter allows a refundable credit against Rhode Island
					 personal income taxes due for residential lead paint removal or
					 reduction.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.2 - Authority

Current through June 14, 2024
These rules and regulations are promulgated pursuant to
					 R.I. Gen. Laws §§
										44-1-4 and
					  44-30.3-8. The
					 rules and regulations have been prepared in accordance with the requirements of
					 R.I. Gen. Laws Chapter 42-35 of the Rhode Island Administrative Procedures
					 Act.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.3 - Application

Current through June 14, 2024
These rules and regulations shall be liberally construed so
					 as to permit the Division of Taxation to effectuate the purpose of R.I. Gen.
					 Laws Chapter 44-30.3 and other applicable state laws and
					 regulations.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.4 - Severability

Current through June 14, 2024
If any provision of these rules and regulations, or the
					 application thereof to any person or circumstances, is held invalid by a court
					 of competent jurisdiction, the validity of the remainder of the rules and
					 regulations shall not be affected thereby.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.6 - Due Date and Extension of Time to File Claims

Current through June 14, 2024
A. All claims shall be filed with and in the
				 possession of Division of Taxation on or before April 15th of the year in which
				 the credit is applied or rebate issued.
B. In cases of sickness, absence, other
				 disability, or in the tax administrator's judgment, good cause exists, an
				 extension not to exceed six (6) months may be granted. Such extension shall be
				 filed in the form of a letter to the tax administrator including documentation
				 for the good cause. Such request shall be filed by on or before April 15th of
				 the year in which the credit is applied or rebate issued.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.7 - Residential Lead Abatement Tax Relief Limitation

Current through June 14, 2024
A.
				 R.I. Gen. Laws §44-30-30.1 appropriates two hundred and fifty thousand
				 dollars ($250,000) for the year commencing on July 1, 2004, and for each
				 subsequent fiscal year.
B. An
				 individual is entitled to a credit against his or her Rhode Island personal
				 income tax liability for residential lead removal or lead hazard reduction if
				 he or she:
1. obtains a housing resources
				 commission regulated certificate of conformance for mitigation, pursuant to
				 R.I. Gen. Laws Chapter 23-24.6; or
2. obtains a department of health regulated
				 lead safe certificate for abatement pursuant to R.I. Gen. Laws Chapter 23-24;
				 and
3. lead paint relief shall only
				 apply to residential premises.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.8 - Credit Calculation

Current through June 14, 2024
A. The tax credit
				 is equal to the amount actually paid for the required lead removal or lead
				 hazard reduction up to a maximum of one thousand five hundred dollars ($1,500)
				 per dwelling unit for mitigation and up to five thousand dollars ($5,000) for
				 abatement.
B. In the event that
				 multiple owners and/or renter(s)/lessee(s) of the dwelling unit have jointly
				 incurred costs and paid for the lead abatement or lead hazard mitigation, each
				 individual must apply for relief as a separate claimant, and must include all
				 required proof of payment and certifications, based on their respective
				 contributions to the cost of lead abatement or lead hazard
				 mitigation.
C. Only one claim for
				 relief can be filed per dwelling unit. If a mitigation claim has previously
				 been filed for the same dwelling unit, the amount of the abatement claim will
				 be reduced by the amount of the mitigation claim already paid for the dwelling
				 unit, even if the dwelling unit has been transferred to another owner or
				 lessee.
1. Example: A claimant, in year one,
				 can perform lead mitigation and file for a credit up to $1,500 per dwelling
				 unit. In a subsequent year a claimant may perform lead abatement work and claim
				 an additional credit for the difference between $1,500 and $5,000, up to $3,500
				 per dwelling unit. The total cannot exceed $5,000 per dwelling unit.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.9 - Income Eligibility

Current through June 14, 2024
A. Claims shall be
				 paid based on the following requirements:
1.
				 Distributions will be provided first to claimants with a household income of
				 thirty-five thousand two-hundred dollars ($35,200) or less during the year for
				 which the claim was filed. The household income amount will be increased July
				 1st of each year by a percentage equal to the cost of living adjustment
				 provided for social security recipients.
2. Secondly, distributions will be provided
				 to claimants who rent or lease dwelling units to individuals whose household
				 income was thirty-five thousand two-hundred dollars ($35,200) or less during
				 the year for which the claim was filed. The household income amount will be
				 increased July 1st of each year by a percentage equal to the cost of living
				 adjustment provided for social security recipients.
3. All other claims will be paid once all
				 applicants under §§
											4.9(A)(1) and
				 (2)     of this Part have been paid. However, if
				 insufficient funds exist to pay the claims of this category in full, then
				 payments will be made proportionately for the remaining claims. No payment
				 shall exceed one hundred percent (100%) of the amount claimed.
4. The statute states that no interest is
				 allowed on any payment made to a claimant.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.10 - Claim is Personal

Current through June 14, 2024
The right to file a claim under this chapter is personal to
					 the claimant and shall not survive his or her death, but the right may be
					 exercised on behalf of a claimant by his or her legal guardian or
					 attorney-in-fact. If a claimant dies after having filed a timely claim, the
					 amount of the claim is disbursed to another member of the household as
					 determined by the tax administrator. If the claimant was the only member of his
					 or her household, the claim may be paid to his or her executor or
					 administrator, but if neither is appointed and qualified within two (2) years
					 of the filing of the claim, the amount of the claim escheats to the
					 state.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 4 - Residential Lead Abatement Income Tax Credit (280-RICR-20-20-4) › Section 280-RICR-20-20-4.11 - Appeals

Current through June 14, 2024
Any person aggrieved by the decision of the tax
					 administrator denying, in whole or in part, relief claimed under R.I. Gen. Laws
					 Chapter 44-30.3, except when the denial is based upon late filing of claim for
					 relief, may appeal the decision of the tax administrator to the sixth (6th)
					 division of the district court by filing a petition within thirty (30) days
					 after the denial.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 5 - Rules and Regulations for the Certification of Motion Picture Production Tax Credits (280-RICR-20-20-5) › Section 280-RICR-20-20-5.1 - Purpose

Current through June 14, 2024
These rules implement R.I. Gen. Laws Chapter 44-31. These
					 rules govern the procedures for the application, certification, and issuance of
					 these tax credits.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 5 - Rules and Regulations for the Certification of Motion Picture Production Tax Credits (280-RICR-20-20-5) › Section 280-RICR-20-20-5.2 - Authority

Current through June 14, 2024
These rules and regulations are jointly promulgated by the
					 Rhode Island Division of Taxation (within the Department of Revenue) and the
					 Rhode Island Film and Television Office (within the Rhode Island State Council
					 on the Arts) pursuant to R.I. Gen. Laws §
										44-31.2-6.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 5 - Rules and Regulations for the Certification of Motion Picture Production Tax Credits (280-RICR-20-20-5) › Section 280-RICR-20-20-5.3 - Application

Current through June 14, 2024
The terms and provisions of these rules and regulations
					 shall be liberally construed to permit the Rhode Island Division of Taxation,
					 within the Department of Revenue, and the Rhode Island Film and Television
					 office, within the Rhode Island Council on the Arts, to effectuate the purposes
					 of R.I. Gen. Laws Chapter 44-31.2 and other applicable state laws and
					 regulations.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 5 - Rules and Regulations for the Certification of Motion Picture Production Tax Credits (280-RICR-20-20-5) › Section 280-RICR-20-20-5.4 - Severability

Current through June 14, 2024
If any provision of these Rules and Regulations, or the
					 application thereof to any person or circumstances, is held invalid by a court
					 of competent jurisdiction, the validity of the remainder of the Rules and
					 Regulations shall not be affected thereby.
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 5 - Rules and Regulations for the Certification of Motion Picture Production Tax Credits (280-RICR-20-20-5) › Section 280-RICR-20-20-5.6 - Overview

Current through June 14, 2024
A. The process of applying for and receiving
				 motion picture production tax credit certificates consist of the following
				 steps:
1. The production company files an
				 application for initial certification with the film office. (For details see
				 §
											5.7     of
				 this Part)
2. The film office
				 prepares an impact analysis based on information provided by the production
				 company on its initial application. The analysis is available for public
				 inspection and is posted on the Division of Taxation's website. (For details
				 see §
											5.8     of this Part)
3. The film office, following review and
				 approval of the initial certification request, issues an initial certification
				 notice to the motion picture production company and to the tax administrator.
				 If the film office rejects an initial certification request, a written
				 notification will be sent to the applicant. (For details see §
											5.9     of this Part)
4. The production company notifies the film
				 office in writing of the commencement of production. (For details see §
											5.11     of this Part)
5. The production company, after completion
				 of a production, files an application for final certification of the production
				 with the film office and the Division of Taxation. (For details see
				 §§
											5.7  and
				   5.9     of this Part)
6. The Division of Taxation makes a
				 determination of the amount of tax credit based on its review of state
				 certified production costs. (For details see §
											5.13     of this Part)
7. The Division of Taxation, upon
				 determination that the production company has complied with all necessary
				 requirements, issues tax credit certificates to the production company. (For
				 details see §
											5.14     of this Part)
Rhode Island Code of Regulations › Title 280 - Department of Revenue › Chapter 20 - Division of Taxation › Subchapter 20 - TAX CREDITS/DEDUCTIONS › Part 5 - Rules and Regulations for the Certification of Motion Picture Production Tax Credits (280-RICR-20-20-5) › Section 280-RICR-20-20-5.8 - Impact Analysis and Periodic Reporting

Current through June 14, 2024
A.
				 Impact Analysis and Periodic Reporting shall be done in accordance with R.I.
				 Gen. Laws §
										44-31.2-6.1.
1. Motion Picture Production companies shall
				 file the Rhode Island Form TC-100 when fulfilling the periodic reporting
				 requirements set forth in R.I. Gen. Laws §
											44-31.2-6.1(f).
2. Motion picture production companies shall
				 file the Rhode Island Form 8201A when fulfilling the period reporting
				 requirement set forth in R.I. Gen. Laws §
											44-31.2-6.1(h).