Rhode Island General Laws

R.I. Gen. Laws § 44-11-12 (2026)

Dividends and interest excluded from net income

✓ current as of July 2026

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There shall not be included in a taxpayer’s net income:

(1) Dividends received from the shares of stock of:

(i) Any banking institution liable to a tax under chapter 14 of this title; or

(ii) Any corporation liable to a tax imposed by this chapter; or

(2) Dividends received from the shares of stock of, or interest received on, the bonds, debentures, or other evidences of indebtedness or the distributive share of the taxable income of any public service corporation or company liable to a tax imposed by chapter 13 of this title.

Notes of Decisions

Cited in 1 case, 1995–1995 · leading case: Dart Indus., Inc. v. Clark, 657 A.2d 1062 (R.I. 1995).

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Dart Indus., Inc. v. Clark, 657 A.2d 1062 (R.I. 1995). “Pursuant to § 44-11-12 a corporation was and continues to be able to exclude from its Rhode Island net income “dividends received from the shares of stock of * * * any corporation liable to a tax imposed by this chapter.”

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