Rhode Island 2023 Regular Session

Rhode Island House Bill H5630 Compare Versions

Only one version of the bill is available at this time.

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