Section 280-RICR-20-05-1.9 - Rate of TaxA. Credit Unions - An annual tax is imposed on every credit union with total deposits in excess of one hundred fifty million dollars ($150,000,000) at a rate of six and ninety-five one hundredths cents ($.0695) on each one hundred dollars ($100) of the daily average of the deposits with the credit union during the calendar year. For those credit unions with total deposits of one hundred fifty million dollars ($150,000,000) or less the rate shall be six and one-quarter cents ($.0625) on each one hundred dollars ($100) of the daily average of deposits with the credit union during the calendar year.B. Banking Institutions - For the period beginning January 1, 1998, and thereafter the tax rate shall be zero for all deposits.C. Estimated Payments - Estimated payments are required in accordance the requirements of R.I. Gen. Laws Chapter 44-26.280 R.I. Code R. § 280-RICR-20-05-1.9