2015 -- H 5009 | |
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LC000255 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2015 | |
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A N A C T | |
RELATING TO TAXATION -- TAX INCENTIVES FOR EMPLOYERS | |
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Introduced By: Representatives Carnevale, McKiernan, Marshall, Costantino, and Trillo | |
Date Introduced: January 08, 2015 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 44-55-8 of the General Laws in Chapter 44-55 entitled "Tax |
2 | Incentives for Employers" is hereby repealed. |
3 | 44-55-8. Adding back the domestic production activities deduction. -- All |
4 | corporations doing business in the state of Rhode Island shall add back into their taxable income |
5 | any amount deducted under the federal "domestic production deduction" of the internal revenue |
6 | code 26 U.S.C. § 199. State tax forms shall be changed if needed in order to comply with this |
7 | section. |
8 | SECTION 2. This act shall take effect upon passage. |
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LC000255 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO TAXATION -- TAX INCENTIVES FOR EMPLOYERS | |
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1 | This act would repeal the section of the law requiring all corporations doing business in |
2 | the state of Rhode Island to add back into their taxable income any amount deducted under the |
3 | Federal "Domestic Production Deduction" of the Internal Revenue Code 26 U.S.C. § 199. |
4 | This act would take effect upon passage. |
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