Rhode Island General Laws 44-26-5. Credit against tax
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All payments of any advance or any installment payment, for any taxable year is allowed as a credit to the corporation against the tax imposed upon the corporation for the taxable year under the provisions of any of the chapters enumerated in § 44-26-1 or any act or acts in lieu of § 44-26-1, and under any act or acts in addition to or amendment of § 44-26-1.
History of Section.
P.L. 1968, ch. 263, art. 11, § 1.
Terms Used In Rhode Island General Laws 44-26-5
- Advance: means a sum equal to one hundred percent (100%) of the full amount of the tax which a corporation estimates it will be required to pay under the provisions of any of the chapters enumerated in subdivision (2) of this subsection, or in any act or acts in lieu, addition or amendment of those chapters. See Rhode Island General Laws 44-26-1
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
- Corporation: means every corporation, utility, banking institution, insurance company, organization, or association subject to taxation under chapters 11, 12, 13, 14, 15, and 17 of this title, § 27-3-38, or under any special act or acts in lieu of the provisions of these chapters and section, or in addition to or amendment of these chapters and section. See Rhode Island General Laws 44-26-1