Section 280-RICR-20-20-11.3 - DefinitionA. In general, definitions and regulations set out by the Commerce Corporation in accordance with R.I. Gen. Laws § 44-43-7 will be used in administering the small business capital development incentives unless a different meaning is clearly intended. 1. "Entrepreneur" means any individual employed full time by the qualifying business entity who owns an equity interest in the qualifying business entity of at least 5% of the value of the entity.2. "Value of the entity" means the net book value of the entity as shown on the entity's books and records computed for each calendar year for the purposes of calculation of the wage credit.3. "Wages" means the sums defined in Internal Revenue Code, 26 U.S.C. § 3121(a).4. "Qualifying investment" means that part of a taxpayer's investment in a certified venture capital partnership (Internal Revenue Code, 26 U.S.C. § 702(a)(8) ) that was invested by the partnership in qualifying business activities during the taxpayer's taxable year. 280 R.I. Code R. § 280-RICR-20-20-11.3