Skip to main content
Find a Lawyer

Rhode Island General Laws Title 44. Taxation § 44-43-2. Deduction or modification

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) In the year in which a taxpayer first makes a qualifying investment in a certified venture capital partnership or the year in which an entrepreneur first makes an investment in a qualifying entity, the taxpayer or the entrepreneur shall be allowed:

(1) A deduction for purposes of computing net income or net worth in accordance with chapter 11 of this title; or

(2) A deduction from gross earnings for purposes of computing the public service corporation tax in accordance with chapter 13 of this title; or

(3) A deduction for the purposes of computing net income in accordance with chapter 14 of this title; or

(4) A deduction for the purposes of computing gross premiums in accordance with chapter 17 of this title; or

(5) A modification reducing federal adjusted gross income in accordance with chapter 30 of this title.

(b) The deduction or modification shall be in an amount equal to the taxpayer's qualifying investment in a certified venture capital partnership or an entrepreneur's investment in a qualifying business entity and shall be measured at the year end of the certified venture capital partnership, the year end of the qualifying business entity, or the year end of the investing taxpayer, whichever comes first.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Rhode Island General Laws Title 44. Taxation § 44-43-2. Deduction or modification - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-44-taxation/ri-gen-laws-sect-44-43-2/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard