R.I. Gen. Laws § 44-14-2

Current through 2024 Public Law 457

Section 44-14-2 - Definitions

For the purposes of this chapter:

(1) "Administrator" means the tax administrator in the department of revenue appointed under the provisions of § 44-1-1;

(2) "Banking institution" means every state bank, federal savings bank, trust company, national banking association, mutual savings bank, building and loan association, and loan and investment company, but shall not include a credit union, or a corporation specified in § 44-11-1(4)(i);

(3) "Director" means the head of the department of revenue appointed under the provisions of § 42-142-1;

(4) "Income period" means the calendar year or the fiscal year, or portion, next preceding the taxable year;

(5) "Securities" includes, but shall not be limited to:

(i) Shares of stock or certificates of beneficial interest, or rights to buy the shares or certificates, of a corporation, joint-stock company, association, or business trust;

(ii) Bonds, debentures, notes, certificates, or other evidences of indebtedness of any individual, partnership, corporation, joint-stock company, association, or business trust, including those issued by the United States government or any state, or political subdivision of either, or issued by any foreign country or nation or political subdivision thereof;

(6) "Taxable year" means the calendar year in which the tax is payable or fiscal year ending during that calendar year, upon the basis of which the tax is computed under this chapter. "Taxable year" means, in the case of a return made for a fractional part of the year under provisions of this chapter or under regulations prescribed by the tax administrator, the period for which the return is made. The term "fiscal year" means an accounting period of twelve (12) months ending on the last day of any month other than December. The taxable year of a banking institution shall be the same for purposes of this chapter as it is for federal income tax purposes;

(7) "Taxpayer" means any banking institution subject to any tax imposed by this chapter.

R.I. Gen. Laws § 44-14-2

P.L. 1942, ch. 1212, art. 7, § 2; P.L. 1943, ch. 1341, § 1; impl. am. P.L. 1951, ch. 2727, art. 1, § 3; G.L. 1956, § 44-14-2; P.L. 1987, ch. 174, § 2; P.L. 1989, ch. 378, §1; P.L. 1994 , ch. 93, § 2; P.L. 1995 , ch. 370, art. 34, §1; P.L. 2008 , ch. 98, § 41; P.L. 2008 , ch. 145, § 41.