Combined Reporting Study
STATE of
RHODE
I
HOPE
ISLAND
Department of Revenue
Division of Taxation
Current Corporate Tax System
□ Rhode Island General Law allows for
special apportionment for specific
industries:
Certified Facility (§44-11-14.1): Allows a corporation to exclude from the numerator of the "payroll" factor the
amount by which total qualified payroll expenses for the tax year exceeds the total qualified payroll expenses in the
immediately preceding tax year.
Regulated investment companies (§44-11-14.2): (also known as RICs, or mutual fund companies) Single Sales factor
Credit card banks (§44-11-14.3): Apportioned to Rhode Island only to the extent that customers of the taxpayer are
domiciled in RI
Retirement and pension plans (§44-11-14.4): Single sales Factor
International investment service (§44-11-14.5): Exclude from its net income any income derived from the sale of
international investment management services.
Manufacturers (§44-11-14.6): Double-weighted sales fact
7View entire presentation