Section 310-RICR-10-10-1.14 - Assignment of Tax CreditsA. A tax credit certificate may be assigned to any Taxpayer, provided that no credit has been claimed based on the tax credit certificate being assigned. The tax credit certificate may be assigned by endorsing the assignment clause set forth on the certificate and delivery of the original certificate to the assignee.B. The assignee may use the tax credit only to offset the actual tax imposed and those taxes permitted to be offset under the Act as delineated in the tax credit agreement, for the taxable year in which the tax credit is issued or for taxable years to which the tax credit is permitted to be carried forward.C. The assignee of a tax credit certificate shall, at the time of filing the assignee's state tax return, submit therewith the original tax credit certificate issued by the Department with respect to a qualified Rhode Island project. In the case of failure to attach the tax credit certificate, a tax credit shall not be allowed with respect to a qualified Rhode Island project for that year until the original tax credit certificate is provided to the Division of Taxation.310 R.I. Code R. 310-RICR-10-10-1.14
Adopted effective 10/8/2024