Notice to Administrator of Sale of Assets - Letters of Good Standing
280-RICR-20-25-4 INACTIVE RULE
| Title | 280 | Department of Revenue |
| Chapter | 20 | Division of Taxation |
| Subchapter | 25 | Business Corporation Tax |
| Part | 4 | Notice to Administrator of Sale of Assets - Letters of Good Standing |
| Type of Filing | Amendment |
| Regulation Status | Inactive |
| Effective | 07/01/2012 to 07/01/2012 |
Regulation Authority:
RIGL 44-1-4
Purpose and Reason:
The purpose of this regulation is to implement section Rhode Island General Law (RIGL) §44-11-29 and 44-11-29.1 that requires a corporation to notify the Tax Administrator if it is selling or transferring a major part in value of its Rhode Island assets other than in the ordinary course of trade and in the regular and usual prosecution of the corporation’s business. Filing a Request for a Letter of Good Standing is the required method for this notification. In addition, even though there is no requirement for notification by a limited liability company (LLC), Limited Liability Partnership (LLP) or Limited Partnership (LP) that has not made an election to be taxed as a corporation for federal tax purposes, this regulation shall cover such Letter of Good Standing requests.
Rulemaking Documents are organized by document type and are part of this rule’s rulemaking record (R.I. Gen. Laws § 42-35-2.3). If multiple documents of the same type are listed below, each is a unique document. If there are multiple Public Notice of Proposed Rulemaking documents, view each document to identify the most recently amended version, as it may be amended at any point during the Public Comment Period.