Rhode Island General Laws 39-17-3. Franchise tax payable to city or town
Every corporation that shall accept exclusive rights or franchises granted by ordinance or contract under the provisions of this chapter, shall make and render to the treasurer of the town or city granting the same, on or before the thirtieth day of January, April, July, and October in every year, returns, verified by the oath of its president or treasurer, of the gross earnings of the corporation within the town or city for the period of three (3) months next preceding the first day of January, April, July, and October in the same year, and shall at the time pay to the town or city treasurer, in full payment for the rights and franchises granted under this chapter, a special tax upon the gross earnings at a rate not exceeding three percent (3%) upon the gross earnings of the corporation within the town or city in that year.
History of Section.
G.L. 1896, ch. 77, § 3; G.L. 1909, ch. 91, § 3; G.L. 1923, ch. 103, § 3; G.L. 1938, ch. 126, § 3; G.L. 1956, § 39-17-3; P.L. 1997, ch. 326, § 119.
Terms Used In Rhode Island General Laws 39-17-3
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9