R.I. Gen. Laws § 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).