R.I. Gen. Laws § 44-26-1 — Definitions and purpose

(a) Definitions. The following words as used in this chapter, unless the context otherwise requires,
have the following meanings:
(1) “Advance” means a sum equal to one hundred percent (100%) of the full amount of the
tax which a corporation estimates it will be required to pay under the provisions
of any of the chapters enumerated in subdivision (2) of this subsection, or in any
act or acts in lieu, addition or amendment of those chapters.
(2) “Corporation” means every corporation, utility, banking institution, insurance company,
organization, or association subject to taxation under chapters 11, 12, 13, 14, 15,
and 17 of this title, § 27-3-38, or under any special act or acts in lieu of the provisions of these chapters and
section, or in addition to or amendment of these chapters and section.
(3) “Taxable year,” in the case of a corporation subject to taxation:
(i) Under chapter 11 or 12 of this title, means “taxable year” as defined in § 44-11-1;
(ii) Under chapter 14 of this title, means “income period” as defined in § 44-14-2; and
(iii) Under chapter 13, 15, or 17 of this title, or under § 27-3-38, means the calendar year ending December 31st next preceding the year during which
the corporation is required to file the return prescribed by § 44-13-6, 44-15-5 or 44-17-1.
(b) Purpose. The purpose of this chapter is to provide for accelerating the payment of the respective
taxes imposed under the provisions of the chapters enumerated in subdivision (a)(2)
of this section by requiring that a corporation pay a sum equal to the entire amount
of its estimated tax during its current taxable year.