Section 280-RICR-20-25-10.14 - Add-BacksA. For tax year 2014, "net income" under R.I. Gen. Laws § 44-11-11 includes, for a captive REIT, an amount equal to the amount of the dividends paid deduction allowed under the Internal Revenue Code for the taxable year.B. For tax year 2014, a corporate taxpayer must add back to net income any otherwise deductible interest expenses and costs and intangible expenses and costs directly or indirectly paid, accrued or incurred to, or in connection directly or indirectly with one or more direct or indirect transactions with, one or more related members.C. For tax years beginning on or after January 1, 2015, the captive REIT provision described in § 10.14(A) of this Part and the intangibles add-back provision described in § 10.14(B) of this Part above are repealed.D. For purposes of Rhode Island combined reporting, all dividends paid by one member to another member of the combined group shall be eliminated from the income of the recipient.E. If a combined group includes a parent and a captive-REIT subsidiary, there shall be no elimination for the REIT payment to the parent, and no dividends-received deduction for the parent. In the case of a group filing a consolidated return in lieu of a combined return for Rhode Island tax purposes, there shall be no dividends-received deduction for the parent of a captive REIT.280 R.I. Code R. § 280-RICR-20-25-10.14