Rhode Island § 44-1-7 - State Tax Officials
Full text of Rhode Island Rhode Island General Laws § 44-1-7 — State Tax Officials, with citation guidance and answers to common questions.
§ 44-1-7. State Tax Officials
R.I. Gen. Laws § 44-1-7
§ 44-1-7. Interest on delinquent payments.
(a) Whenever the full amount of any state tax or any portion or deficiency, as finally determined by the tax administrator, has not been paid on the date when it is due and payable, whether the time has been extended or not, there shall be added as part of the tax or portion or deficiency interest at the rate as determined in accordance with subsection (b) of this section, notwithstanding any general or specific statute to the contrary.
(b) Each January 1 the tax administrator shall compute the rate of interest to be in effect for that calendar year by adding two percent (2%) to the prime rate, which was in effect on October 1 of the preceding year, except:
(1) Before January 1, 2023, in no event shall the rate of interest exceed twenty-one percent (21%) per annum nor be less than eighteen percent (18%) per annum;
(2) On and after January 1, 2023, in no event shall the rate of interest exceed twenty-one percent (21%) per annum nor be less than twelve percent (12%) per annum except:
(i) For trust fund taxes as established by §§ 44-19-35 and 44-30-76, in no event shall the rate of interest exceed twenty-one percent (21%) per annum nor be less than eighteen percent (18%) per annum.
(c) “Prime rate” as used in subsection (b) of this section means the predominant prime rate quoted by commercial banks to large businesses as determined by the board of governors of the Federal Reserve System.
(d) Notwithstanding any provisions of the general laws to the contrary, the tax administrator shall waive interest and penalty on the taxable portion of each Paycheck Protection Program loan taxed pursuant to §§ 44-11-11(a)(1)(iv), 44-14-11, and 44-30-12(b)(8) and forgiven during tax year 2020 provided that the tax on that portion is paid in full on or before March 31, 2022. The tax administrator shall make available suitable forms with instructions for making tax payments on the taxable portion of such forgiven Paycheck Protection Program loans.
History of Section.
P.L. 1974, ch. 151, art. 1, § 1; P.L. 1981, ch. 293, § 1; P.L. 1982, ch. 9, art. 4,
§ 1; P.L. 1984, ch. 289, § 1; P.L. 1993, ch. 138, art. 67, § 1; P.L. 2006, ch. 157,
§ 2; P.L. 2006, ch. 246, art. 21, § 2; P.L. 2006, ch. 631, § 2; P.L. 2007, ch. 73,
art. 4, § 3; P.L. 2021, ch. 162, art. 6, § 10, effective July 6, 2021; P.L. 2022,
ch. 231, art. 6, § 4, effective June 27, 2022.
Frequently Asked Questions About Rhode Island § 44-1-7
What does Rhode Island General Laws § 44-1-7 cover?
Section 44-1-7 ("State Tax Officials") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 44-1-7?
A common citation format is "Rhode Island General Laws § 44-1-7" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 44-1-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.