2015 -- H 5444

========

LC000354

========

     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2015

____________

A N   A C T

RELATING TO TAXATION -- SALES AND USE TAXES--LIABILITY AND

COMPUTATION

     

     Introduced By: Representatives Marcello, Serpa, Hearn, Shekarchi, and Morgan

     Date Introduced: February 12, 2015

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

1

     SECTION 1. Chapter 44-18 of the General Laws entitled "Sales and Use Taxes -

2

Liability and Computation" is hereby amended by adding thereto the following section:

3

     44-18-41. Business community statute of limitations. -- Business community and

4

personal income tax statute of limitations. – (a) There is hereby established a ten (10) year

5

statute of limitations on the collection of any business tax and/or personal income tax imposed by

6

reason of or pursuant to authorization by any law of the state of Rhode Island.

7

     (b) The statute of limitations provided for herein shall commence at the time the tax is

8

deemed owed to the division of taxation.

9

     SECTION 2. This act shall take effect upon passage.

========

LC000354

========

 

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- SALES AND USE TAXES--LIABILITY AND

COMPUTATION

***

1

     This act would establish a ten (10) year statute of limitations on the collection of any

2

business tax and/or personal income tax owed to the division of taxation.

3

     This act would take effect upon passage.

========

LC000354

========

 

LC000354 - Page 2 of 2