Rhode Island § 44-14-14 - Taxation of Banks
Full text of Rhode Island Rhode Island General Laws § 44-14-14 — Taxation of Banks, with citation guidance and answers to common questions.
§ 44-14-14. Taxation of Banks
R.I. Gen. Laws § 44-14-14
§ 44-14-14. Write-downs or reserves for security losses.
Whenever any taxpayer by requirement of regulatory authorities having supervision over it, shall write down any of its securities or establish reserves for the decrease in values of any of its securities, the taxpayer may elect to treat the amount of the write-downs or reserves as deductions in the year in which they are recorded on its books and records as allocated to any security or group of securities, in which event the basis of the securities shall be adjusted to reflect the write-downs or reserves specifically allocated to any security, and the adjusted basis shall be used in determining gains or losses upon the sale or other disposition of the securities.
History of Section.
P.L. 1942, ch. 1212, art. 7, § 6; P.L. 1943, ch. 1341, § 3; P.L. 1947, ch. 1957, §
1; G.L. 1956, § 44-14-14.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 44-14-14
What does Rhode Island General Laws § 44-14-14 cover?
Section 44-14-14 ("Taxation of Banks") 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 § 44-14-14?
A common citation format is "Rhode Island General Laws § 44-14-14" (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 § 44-14-14 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.