280-20-10 R.I. Code R. § 1.15
Current through June 20, 2024
Intercompany transfers or transfers among affiliated companies which do not entail consideration and in which no gain is recognized by the transferor or transferee are not sales and as such do not fall within the purview of R.I. Gen. Laws § 44-30-71.3. In such transfers the transferor may combine language in the deed stating that no documentary stamps are required with language that this intercompany transfer or transfer among affiliated companies is such that no withholding is required under R.I. Gen. Laws § 44-30-71.3. If a deed contains such a recital, the recording of such deed shall in all instances discharge the lien imposed by R.I. Gen. Laws § 44-30-71.3(c).
280 R.I. Code R. § 280-RICR-20-10-1.15