Rhode Island Code of Regulations
Title 280 - Department of Revenue
Chapter 20 - Division of Taxation
Subchapter 10 - Withholding Tax
Part 1 - Withholding Tax on the Sale of Real Property by Nonresidents (280-RICR-20-10-1)
Section 280-RICR-20-10-1.10 - Payment

Universal Citation: 280 RI Code of Rules 20 10 1.10

Current through September 18, 2024

A. The buyer must remit amounts withheld from the seller or sellers within three (3) banking days after the date closing.

B. The buyer must remit to the Rhode Island Division of Taxation using the RI 71.3 Remittance Form.

C. In the event of nonpayment or late payment, interest will be computed in accordance with R.I. Gen. Laws § 44-1-7 and added to the amount due.

D. Filing and paying the amount of withholding due will automatically discharge the lien under R.I. Gen. Laws § 44-30-71.3. For an acknowledgement of the lien discharge, the buyer should complete the reverse side of the remittance form and provide a pre-addressed envelope. The Division of Taxation will acknowledge the lien discharge and send it to the buyer or designee.

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