H5833

	2017 -- H 5833
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	LC001901
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	STATE OF RHODE ISLAND
	IN GENERAL ASSEMBLY
	JANUARY SESSION, A.D. 2017
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	A N A C T
	RELATING TO TAXATION - TAX INCENTIVES FOR EMPLOYERS

	Introduced By: Representatives Ucci, Winfield, and Corvese
	Date Introduced: March 02, 2017
	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2	Incentives for Employers" is hereby repealed.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.
4	All corporations doing business in the state of Rhode Island shall add back into their
5	taxable income any amount deducted under the federal "domestic production deduction" of the
6	internal revenue code 26 U.S.C. § 199. State tax forms shall be changed if needed in order to
7	comply with this section.
8	SECTION 2. This act shall take effect upon passage.
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	LC001901
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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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	LC001901
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