Rhode Island General Laws 44-13-2.1. Public service companies subject to tax
(a) Every public service company defined, foreign or domestic, engaging in any of the same businesses within this state of any corporation enumerated in § 44-13-4, shall annually pay a tax or excise to the state for the privilege of carrying on or being authorized to carry on business within this state during any part of the preceding calendar year. The tax shall be in addition to any tax upon its real estate and tangible personal property locally or otherwise assessed and shall be measured by its gross earnings determined in the same manner as provided for corporations under § 44-13-1(b) for the preceding calendar year or for the portion of the year that the public service company has carried on or was authorized to carry on business within this state, and shall be computed at the rates prescribed in § 44-13-4. All other provisions of this chapter and title as they relate to public service corporations shall apply to public service companies.
Terms Used In Rhode Island General Laws 44-13-2.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Personal property: All property that is not real property.
- real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
(b) For purposes of this chapter, “public service company” means and includes every joint stock company, association, partnership (limited or general), joint venture, or other entity or individual formed for or engaged in any business which, when engaged in by a corporation, is subject to tax under this chapter.
History of Section.
P.L. 1989, ch. 130, § 1.