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5 | 5 | | 2023 -- H 5630 |
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6 | 6 | | ======== |
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7 | 7 | | LC001485 |
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8 | 8 | | ======== |
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9 | 9 | | S TATE OF RHODE IS LAND |
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10 | 10 | | IN GENERAL ASSEMBLY |
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11 | 11 | | JANUARY SESSION, A.D. 2023 |
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12 | 12 | | ____________ |
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13 | 13 | | |
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14 | 14 | | A N A C T |
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15 | 15 | | RELATING TO TAXATION -- PUBLIC SERVICE CORPORATION TAX |
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16 | 16 | | Introduced By: Representatives P. Morgan, Fenton-Fung, Rea, Nardone, Roberts, |
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17 | 17 | | Azzinaro, Lima, Perez, Messier, and J. Brien |
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18 | 18 | | Date Introduced: February 15, 2023 |
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19 | 19 | | Referred To: House Finance |
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20 | 20 | | |
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21 | 21 | | |
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22 | 22 | | It is enacted by the General Assembly as follows: |
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23 | 23 | | SECTION 1. Section 44-13-4 of the General Laws in Chapter 44-13 entitled "Public 1 |
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24 | 24 | | Service Corporation Tax" is hereby amended to read as follows: 2 |
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25 | 25 | | 44-13-4. Rate of taxation. 3 |
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26 | 26 | | The tax imposed will be at the following rates: 4 |
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27 | 27 | | (1) In the case of every corporation whose principal business is a steamboat or ferryboat 5 |
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28 | 28 | | business as a common carrier, every common carrier steam or electric railroad corporation, every 6 |
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29 | 29 | | street railway corporation, every common carrier dining, sleeping, chair, or parlor car corporation, 7 |
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30 | 30 | | every corporation whose principal business is selling and distributing water to the public, and every 8 |
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31 | 31 | | toll bridge corporation, one and one-fourth percent (1.25%) of its gross earnings; 9 |
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32 | 32 | | (2) In the case of every corporation whose principal business is manufacturing, selling, 10 |
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33 | 33 | | distributing and/or transmitting currents of electricity to be used for light, heat, or motive power, 11 |
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34 | 34 | | four percent (4%) of its gross earnings, but deductions shall be made of gross earnings from the 12 |
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35 | 35 | | transmission or sale of electricity to other public utility corporations, non-regulated power 13 |
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36 | 36 | | producers, or municipal utilities for resale, whether within or outside of this state; provided, that 14 |
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37 | 37 | | the tax measured by the portion of the utility’s gross earnings as is derived from the manufacture 15 |
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38 | 38 | | and sale of illuminating and heating gas and its by-products and the merchandising of gas 16 |
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39 | 39 | | appliances shall be computed at the rate of three percent (3%); 17 |
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40 | 40 | | (3) In the case of every express corporation carrying on its business on steamboats, steam 18 |
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41 | 41 | | or electric railroads, or street railways and of every public service corporation whose principal 19 |
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43 | 43 | | |
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44 | 44 | | LC001485 - Page 2 of 3 |
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45 | 45 | | business is that of a telegraph corporation, four percent (4%) of its gross earnings; 1 |
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46 | 46 | | (4) In the case of every telecommunications corporation providing telecommunications 2 |
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47 | 47 | | service, ten percent (10%) of its gross earnings; provided, that the rate shall be nine percent (9%) 3 |
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48 | 48 | | effective July 1, 1985, eight percent (8%) effective July 1, 1986, seven percent (7%) effective July 4 |
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49 | 49 | | 1, 1987, six percent (6%) effective July 1, 1988, and five percent (5%) effective July 1, 1997. For 5 |
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50 | 50 | | purposes of this chapter, “telecommunications service” means the transmission of any interactive 6 |
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51 | 51 | | two-way electromagnetic communications including voice, image, data, and other information, by 7 |
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52 | 52 | | means of wire, cable, including fiber optical cable, microwave, and radio wave, or any 8 |
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53 | 53 | | combinations of these media. This definition does not include value added non-voice services in 9 |
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54 | 54 | | which computer processing applications are used to act on the form, content, code, and protocol of 10 |
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55 | 55 | | the information to be transmitted; and 11 |
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56 | 56 | | (5) In the case of every public service cable corporation, eight percent (8%) of its gross 12 |
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57 | 57 | | earnings;. 13 |
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58 | 58 | | (6) In the case of every corporation whose principal business is manufacturing, selling 14 |
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59 | 59 | | and/or distributing to the public illuminating or heating gas, three percent (3%) of its gross earnings. 15 |
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60 | 60 | | SECTION 2. This act shall take effect upon passage. 16 |
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61 | 61 | | ======== |
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62 | 62 | | LC001485 |
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64 | 64 | | |
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65 | 65 | | |
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66 | 66 | | LC001485 - Page 3 of 3 |
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67 | 67 | | EXPLANATION |
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68 | 68 | | BY THE LEGISLATIVE COUNCIL |
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69 | 69 | | OF |
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70 | 70 | | A N A C T |
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71 | 71 | | RELATING TO TAXATION -- PUBLIC SERVICE CORPORATION TAX |
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72 | 72 | | *** |
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73 | 73 | | This act would eliminate the gross earnings tax for every corporation whose principal 1 |
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74 | 74 | | business is manufacturing, selling, distributing and/or transmitting currents of electricity and 2 |
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75 | 75 | | natural gas to be used for light, heat, or motive power. 3 |
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76 | 76 | | This act would take effect upon passage. 4 |
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77 | 77 | | ======== |
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78 | 78 | | LC001485 |
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