Section 44-14-15 - Dividends excluded from incomeThere shall not be included in a taxpayer's net income dividends received from the shares of stock of:
(1) Any corporation if over fifty percent (50%) of the corporation's value was apportioned to this state in determining the tax last imposed on it by chapter 11 of this title;(2) Any utility if over fifty percent (50%) of the utility's gross earnings was apportioned to this state in determining the tax last imposed on it by chapter 13 of this title;(3) Any banking institution liable to a tax under this chapter; and(4) Any corporation specified in § 44-11-1(4)(i).R.I. Gen. Laws § 44-14-15
P.L. 1942, ch. 1212, art. 7, § 6; G.L. 1956, §44-14-15; P.L. 1994 , ch. 93, § 3.