Rhode Island 2023 Regular Session

Rhode Island House Bill H5630 Compare Versions

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99 S TATE OF RHODE IS LAND
1010 IN GENERAL ASSEMBLY
1111 JANUARY SESSION, A.D. 2023
1212 ____________
1313
1414 A N A C T
1515 RELATING TO TAXATION -- PUBLIC SERVICE CORPORATION TAX
1616 Introduced By: Representatives P. Morgan, Fenton-Fung, Rea, Nardone, Roberts,
1717 Azzinaro, Lima, Perez, Messier, and J. Brien
1818 Date Introduced: February 15, 2023
1919 Referred To: House Finance
2020
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2222 It is enacted by the General Assembly as follows:
2323 SECTION 1. Section 44-13-4 of the General Laws in Chapter 44-13 entitled "Public 1
2424 Service Corporation Tax" is hereby amended to read as follows: 2
2525 44-13-4. Rate of taxation. 3
2626 The tax imposed will be at the following rates: 4
2727 (1) In the case of every corporation whose principal business is a steamboat or ferryboat 5
2828 business as a common carrier, every common carrier steam or electric railroad corporation, every 6
2929 street railway corporation, every common carrier dining, sleeping, chair, or parlor car corporation, 7
3030 every corporation whose principal business is selling and distributing water to the public, and every 8
3131 toll bridge corporation, one and one-fourth percent (1.25%) of its gross earnings; 9
3232 (2) In the case of every corporation whose principal business is manufacturing, selling, 10
3333 distributing and/or transmitting currents of electricity to be used for light, heat, or motive power, 11
3434 four percent (4%) of its gross earnings, but deductions shall be made of gross earnings from the 12
3535 transmission or sale of electricity to other public utility corporations, non-regulated power 13
3636 producers, or municipal utilities for resale, whether within or outside of this state; provided, that 14
3737 the tax measured by the portion of the utility’s gross earnings as is derived from the manufacture 15
3838 and sale of illuminating and heating gas and its by-products and the merchandising of gas 16
3939 appliances shall be computed at the rate of three percent (3%); 17
4040 (3) In the case of every express corporation carrying on its business on steamboats, steam 18
4141 or electric railroads, or street railways and of every public service corporation whose principal 19
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4545 business is that of a telegraph corporation, four percent (4%) of its gross earnings; 1
4646 (4) In the case of every telecommunications corporation providing telecommunications 2
4747 service, ten percent (10%) of its gross earnings; provided, that the rate shall be nine percent (9%) 3
4848 effective July 1, 1985, eight percent (8%) effective July 1, 1986, seven percent (7%) effective July 4
4949 1, 1987, six percent (6%) effective July 1, 1988, and five percent (5%) effective July 1, 1997. For 5
5050 purposes of this chapter, “telecommunications service” means the transmission of any interactive 6
5151 two-way electromagnetic communications including voice, image, data, and other information, by 7
5252 means of wire, cable, including fiber optical cable, microwave, and radio wave, or any 8
5353 combinations of these media. This definition does not include value added non-voice services in 9
5454 which computer processing applications are used to act on the form, content, code, and protocol of 10
5555 the information to be transmitted; and 11
5656 (5) In the case of every public service cable corporation, eight percent (8%) of its gross 12
5757 earnings;. 13
5858 (6) In the case of every corporation whose principal business is manufacturing, selling 14
5959 and/or distributing to the public illuminating or heating gas, three percent (3%) of its gross earnings. 15
6060 SECTION 2. This act shall take effect upon passage. 16
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6767 EXPLANATION
6868 BY THE LEGISLATIVE COUNCIL
6969 OF
7070 A N A C T
7171 RELATING TO TAXATION -- PUBLIC SERVICE CORPORATION TAX
7272 ***
7373 This act would eliminate the gross earnings tax for every corporation whose principal 1
7474 business is manufacturing, selling, distributing and/or transmitting currents of electricity and 2
7575 natural gas to be used for light, heat, or motive power. 3
7676 This act would take effect upon passage. 4
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