Rhode Island General Laws > Chapter 44-32 – Elective Deduction for Research and Development Facilities


§ 44-32-1	Elective deduction against allocated entire net income
§ 44-32-2	Credit for research and development property acquired, constructed, or reconstructed or erected after July 1, 1994
§ 44-32-3	Credit for qualified research expenses

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Amortization: Paying off a loan by regular installments.
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.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
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.
person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
Personal property: All property that is not real property.