Rhode Island § 44-62-5 - Tax Credits for Contributions to Scholarship Organizations
Full text of Rhode Island Rhode Island General Laws § 44-62-5 — Tax Credits for Contributions to Scholarship Organizations, with citation guidance and answers to common questions.
§ 44-62-5. Tax Credits for Contributions to Scholarship Organizations
R.I. Gen. Laws § 44-62-5
§ 44-62-5. Limitations.
(a) The credit shall not exceed one hundred thousand dollars ($100,000) annually per business entity.
(b) The tax credit must be used in the tax year the contribution was made. Any amounts of unused tax credit may not be carried forward. The tax credit is not refundable, assignable or transferable. The tax credit may not reduce the tax below the state minimum tax.
(c) The credit allowed under this chapter is only allowed against the tax of that corporation included in a consolidated return that qualifies for the credit and not against the tax of other corporations that may join in the filing of a consolidated tax return.
History of Section.
P.L. 2006, ch. 246, art. 24, § 1.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 44-62-5
What does Rhode Island General Laws § 44-62-5 cover?
Section 44-62-5 ("Tax Credits for Contributions to Scholarship Organizations") 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 § 44-62-5?
A common citation format is "Rhode Island General Laws § 44-62-5" (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 § 44-62-5 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.