Rhode Island General Laws 36-10-32. Tax exemption
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The right of a member or beneficiary to a pension, an annuity, a retirement allowance, to the return of contributions, any benefit, or right accrued or accruing to any person under the provisions of chapters 8 — 10 of this title, and the money in the various funds created hereunder, are hereby made exempt from any municipal tax or state tax except for the personal income tax imposed under the provisions of chapter 30 of Title 44.
History of Section.
P.L. 1936, ch. 2334, § 12; G.L. 1938, ch. 18, § 12; G.L. 1956, § 36-10-32; P.L. 1985, ch. 496, art. 3, § 1.
Terms Used In Rhode Island General Laws 36-10-32
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6