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-20-10-1.14 - Gifts
Universal Citation: 280 RI Code of Rules 20 10 1.14
Current through September 18, 2024
A. Bona fide gifts of property (e.g. transfers where there is no consideration and no gain attributed to the transferor) do not fall within the purview of R.I. Gen. Laws § 44-30-71.3 and therefore no withholding is required. In transfers by way of gifts the transferor may combine language in the deed stating that no documentary stamps are required with language stating that this transfer is by way of gift and no withholding is required under R.I. Gen. Laws § 44-30-71.3.
1. EXAMPLE: Transfer is by gift so that no
documentary stamps are required and no withholding is required under R.I. Gen.
Laws §
44-30-71.3.
If a deed contains a recitation of gift by the seller, the recording of such
deed shall in all instances discharge the lien imposed by R.I. Gen. Laws §
44-30-71.3(c).
Disclaimer: These regulations may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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