Rhode Island Code of Regulations
Title 280 - Department of Revenue
Chapter 20 - Division of Taxation
Subchapter 20 - TAX CREDITS/DEDUCTIONS
Part 12 - Elective Deduction for New Research and Development Facilities (280-RICR-20-20-12)
Section 280-RICR-20-20-12.3 - Deduction Allowed
Universal Citation: 280 RI Code of Rules 20 20 12.3
Current through March 20, 2024
The deduction for new research and development facilities shall be allowed in the year in which the expenditure is paid or incurred, provided, however, that only the portion of expenditures that is property attributable to construction, reconstruction, erection or acquisition on or after July 1, 1974 is taken into account. Any unused deduction may be carried forward for three years. A research and development deduction shall be applied only after any net operating loss deduction has been applied for that year.
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