Rhode Island General Laws 18-5-3. Property tax on assets
Current as of: 2024 | Check for updates
|
Other versions
Real estate and tangible personal property constituting assets of a common trust fund shall be taxed to the owner of the assets in the same manner as otherwise required by law.
History of Section.
P.L. 1956, ch. 3839, § 3; G.L. 1956, § 18-5-3.
Terms Used In Rhode Island General Laws 18-5-3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Common trust fund: means a fund maintained by a bank or trust company exclusively for the collective investment and reinvestment of money contributed to the fund by the bank or trust company in its capacity as a trustee, executor, administrator, or guardian, or as a cotrustee, coexecutor, coadministrator, or coguardian. See Rhode Island General Laws 18-5-2
- Personal property: All property that is not real property.