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-20-20-12.8 - Property Ceasing to Qualify
Universal Citation: 280 RI Code of Rules 20 20 12.8
Current through March 20, 2024
A. Generally, the format for the computation of the research and development deduction to be recomputed as Rhode Island income when the property is used for purposes other than for research and development will be;
1.
Research and development deduction taken on property ceasing to qualify X
Useful Life (in months) - Qualified Use (in months) = Useful life (in
months)
2. Research and development
deduction recomputed is reportable as additional Rhode Island income for the
year or years for which the deduction was allowed. Any tax that may be due as a
result of this recomputation must be paid at the time of reporting such
recomputation.
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