State of Rhode Island - Division of Taxation

Franchise Tax

Regulation FT 90-01

Apportionment of Franchise Tax

For those domestic corporations, i.e., corporations whose existence and power to issue capital stock stem from the State of Rhode Island, there shall be no apportionment of franchise tax.

For those foreign corporations, i.e., corporations whose existence and power to issue capital stock stem from states other than Rhode Island, and which are qualified to do business in Rhode Island, the franchise tax shall be apportioned in the same manner as outlined for business corporation tax by Title 44, Chapter 11 of the General Laws of Rhode Island as amended.

The minimum franchise tax for a domestic or foreign corporation shall be $100.

R. GARY CLARK TAX ADMINISTRATOR

DATE FILED: December 7, 1990

EFFECTIVE DATE: December 31, 1990