Partnertax.ai
Start free trial →

Rhode Island Code of Regulations — Title 280 (Department of Revenue)

280-RICR-20-25-3

Exclusion of Distributive Share of Public Service Income

Official textrules.sos.ri.govlast amended

# PURPOSE

These rules and regulations implement R.I. Gen. Laws § 44-11-12(2).  That Section allows a deduction of the distributive share of the taxable income of any public service corporation or company liable for the tax imposed under R.I. Gen. Laws Chapter 44-13 (Public Service Corporation Tax). 

# AUTHORITY

These rules and regulations are promulgated pursuant to R.I. Gen. Laws § 44-1-4.  These rules and regulations have been prepared in accordance with the requirements of R.I. Gen. Laws §§ 42-35-1 et. seq. of the Rhode Island Administrative Procedures Act.

# APPLICATION

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 44-11.

# SEVERABILITY

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.

# DESCRIPTION

To the extent that the income derived from a public service corporation is subject to tax, the exclusion will apply. To the extent that the income from a public service corporation is not subject to tax, the exclusion will not apply.

# EXAMPLES

A.A utility company sells tangible, intangible or real property not devoted to its utility operation. Such net gain distribution is a taxable transaction for R.I. Gen. Laws Chapter 44-13 purposes and therefore is excludable for R.I. Gen. Laws Chapter 44-11 purposes.

B.A utility company sells tangible, intangible or real property devoted to its utility operation. Such net gain distribution is a nontaxable transaction for R.I. Gen. Laws Chapter 44-13 purposes and therefore is not excludable for R.I. Gen. Laws Chapter 44-11 purposes.

Amendment history

01/04/2022

Source: view the official text

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this chapter (40 sections)
  1. 280-20-10-1 · Withholding Tax on the Sale of Real Property by…
  2. 280-20-15-1 · Cigarette Tax
  3. 280-20-15-2 · Other Tobacco Products
  4. 280-20-20-1 · Investment Tax Credit
  5. 280-20-20-2 · Research and Development Expenses Credit
  6. 280-20-20-3 · Historic Structures Tax Credit
  7. 280-20-20-4 · Residential Lead Abatement Income Tax Credit
  8. 280-20-20-5 · Rules and Regulations for the Certification of Motion…
  9. 280-20-20-6 · Historic Preservation Tax Credits 2013
  10. 280-20-20-8 · Rules and Regulations for the Rhode Island Qualified Jobs…
  11. 280-20-20-9 · Rules and Regulations for the Rebuild Rhode Island Tax…
  12. 280-20-20-10 · Rules and Regulations for the Wavemaker Fellowship…
  13. 280-20-20-11 · Small Business Capital Development
  14. 280-20-20-12 · Elective Deduction for New Research and Development…
  15. 280-20-20-13 · Daycare Assistance and Development Tax Credit
  16. 280-20-20-14 · Research and Development Property Credit
  17. 280-20-20-15 · Tax Incentives for Employers
  18. 280-20-20-16 · Disabled Access Credit for Small Businesses
  19. 280-20-25-1 · Amended Returns
  20. 280-20-25-2 · Rhode Island Jobs Development Act
  21. 280-20-25-3 · Exclusion of Distributive Share of Public Service Income
  22. 280-20-25-4 · Notice to Administrator of Sale of Assets, Letters of…
  23. 280-20-25-5 · Estimated Tax Payments
  24. 280-20-25-6 · Limited Liability Partnerships and Limited Partnerships
  25. 280-20-25-7 · Limited Liability Companies
  26. 280-20-25-8 · Nexus
  27. 280-20-25-9 · Apportionment of Net Income
  28. 280-20-25-10 · Combined Reporting
  29. 280-20-25-11 · Ability to Apportion Net Income
  30. 280-20-25-12 · Consolidated Returns
  31. 280-20-25-13 · Net Operating Loss Deductions
  32. 280-20-25-14 · Qualified Sub Chapter S Subsidiary Corporations
  33. 280-20-25-15 · Treatment of Repatriated Income 2017
  34. 280-20-25-17 · Modifications to Net Income Due to Decoupling from P.L.…
  35. 280-20-30-1 · Payment of Taxes by Electronic Funds Transfer
  36. 280-20-30-2 · Electronic Filing for Paid Preparers
  37. 280-20-35-1 · Computation of Estate Tax
  38. 280-20-40-1 · Forms Reproduction
  39. 280-20-45-1 · Application & Payment of Litter Control Participation…
  40. 280-20-45-2 · Hard-to-Dispose Materials and Beverage Container Tax
Full table of contents →