280-20-20 R.I. Code R. § 12.3
Current through June 20, 2024
The deduction for new research and development facilities shall be allowed in the year in which the expenditure is paid or incurred, provided, however, that only the portion of expenditures that is property attributable to construction, reconstruction, erection or acquisition on or after July 1, 1974 is taken into account. Any unused deduction may be carried forward for three years. A research and development deduction shall be applied only after any net operating loss deduction has been applied for that year.
280 R.I. Code R. § 280-RICR-20-20-12.3