Section 280-RICR-20-20-15.8 - Limitations and MiscellaneousA. The incentive (deduction or modification) is not refundable.B. The incentive may be used by the claimant business for taxes levied under R.I. Gen. Laws Chapter 44-11 (Business Corporation Tax); under R.I. Gen. Laws Chapter 44-13 (Public Service Corporation Tax) but not under R.I. Gen. Laws § 4-13-13; under R.I. Gen. Laws Chapter 44-14 (Bank Excise Tax); under R.I. Gen. Laws Chapter 44-15 (Bank Deposits Tax); under R.I. Gen. Laws Chapter 44-17 (Taxation of Insurance Companies); and under R.I. Gen. Laws Chapter 44-30 (Personal Income Tax).C. If the business is liable for both Bank Excise and Bank Deposits taxes (under R.I. Gen. Laws Chapters 44-14 and 44-15), the taxpayer must elect only one tax in which to claim the incentive and may not divide the incentive between the two taxes.D. If the business is a Sub-chapter S corporation, limited liability company, partnership or joint venture, the incentive is to be divided in the same manner as income.280 R.I. Code R. 280-RICR-20-20-15.8