280-20-10 R.I. Code R. § 1.10

Current through June 20, 2024

Section 280-RICR-20-10-1.10 - Payment

A. The buyer must remit amounts withheld from the seller or sellers within three (3) banking days after the date closing.

B. The buyer must remit to the Rhode Island Division of Taxation using the RI 71.3 Remittance Form.

C. In the event of nonpayment or late payment, interest will be computed in accordance with R.I. Gen. Laws § 44-1-7 and added to the amount due.

D. Filing and paying the amount of withholding due will automatically discharge the lien under R.I. Gen. Laws § 44-30-71.3. For an acknowledgement of the lien discharge, the buyer should complete the reverse side of the remittance form and provide a pre-addressed envelope. The Division of Taxation will acknowledge the lien discharge and send it to the buyer or designee.

280 R.I. Code R. § 280-RICR-20-10-1.10