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

280-RICR-20-70-8

Finance Charges

Official textrules.sos.ri.govlast amended

# Purpose

This regulation implements R.I. Gen. Laws Chapters 44-18 and 44-19. These Chapters provide for Sales and Use Taxes Liability and Computation, and Sales and Use Taxes Enforcement and Collection, in regard to taxation of finance charges.

# Authority

This regulation is promulgated pursuant to R.I. Gen. Laws Chapters 44-18 and 44-19, as amended. These rules have been prepared in accordance with the requirements of R.I. Gen. Laws Chapter 44-1 and § 44-19-33.

# Application

The terms and provisions of these rules and regulations shall be liberally construed to permit the Department of Revenue to effectuate the purposes of R.I. Gen. Laws Chapters 44-18 and 44-19 and other applicable state laws and regulations.

# 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.

# Finance Charges

Finance, carrying, interest, insurance or other charges, which are in addition to the established cash selling price, in connection with credit sales of tangible personal property are not subject to the tax if separately stated on any evidence of sale.

Amendment history

01/04/2022

Source: view the official text

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In this chapter (40 sections)
  1. 280-20-55-5 · Filing Status of Spouses – Nonresident Military Personnel…
  2. 280-20-55-6 · Fiscal Year Taxpayers’ Method of Computing Rhode Island…
  3. 280-20-55-7 · Trust Distributions
  4. 280-20-55-8 · Lottery and Pari-Mutuel Winnings and Prizes
  5. 280-20-55-9 · W-2 Informational Returns
  6. 280-20-55-10 · Employers' Withholding
  7. 280-20-55-11 · Taxation of Nonresident Professional Athletes
  8. 280-20-55-12 · Net Operating Loss Limitation
  9. 280-20-55-13 · Modification of Certain Income of Writers, Composers and…
  10. 280-20-55-15 · Implementation of the Rhode Island Individual Health…
  11. 280-20-55-17 · Modifications to Rhode Island Income of a Resident…
  12. 280-20-60-1 · 2017 Rulemaking Concerning Insurance Premium Tax Rate and…
  13. 280-20-65-1 · Public Service Corporation Tax
  14. 280-20-70-1 · Streamlined Sales and Use Tax Agreement
  15. 280-20-70-2 · Optional Service, Maintenance and Extended Warranty…
  16. 280-20-70-3 · Bibles and Other Canonized Scriptures
  17. 280-20-70-4 · Local Meals and Beverage Tax
  18. 280-20-70-5 · Pet care services (except veterinary and testing…
  19. 280-20-70-6 · Clothing, Clothing Accessories, Sports or Recreational…
  20. 280-20-70-7 · Social Clubs
  21. 280-20-70-8 · Finance Charges
  22. 280-20-70-9 · Mobile and Manufactured Homes
  23. 280-20-70-10 · Film Rentals
  24. 280-20-70-11 · Exemption of Sales by Writers, Composers and Artists
  25. 280-20-70-12 · Record Requirements
  26. 280-20-70-13 · Materialmen - Pay When Paid Remittance Method
  27. 280-20-70-14 · Billboards and Signs
  28. 280-20-70-15 · Delivery Charges
  29. 280-20-70-16 · Florists
  30. 280-20-70-17 · Promoters and Flea Markets
  31. 280-20-70-18 · Vending Machines and Operators
  32. 280-20-70-19 · Manufacturing, Property and Public Utilities Service…
  33. 280-20-70-20 · Films Generally
  34. 280-20-70-21 · Rentals and Leases of Tangible Personal Property…
  35. 280-20-70-22 · Bad Debts
  36. 280-20-70-23 · Application of Tax at Time of Billing
  37. 280-20-70-24 · Repairers, Reconditioners, and Recappers
  38. 280-20-70-25 · Use Tax Generally
  39. 280-20-70-26 · Stone Cutters and Engravers
  40. 280-20-70-27 · Demonstration, Displays, and Display Containers
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