Notice to Administrator of Sale of Assets - Letters of Good Standing


280-RICR-20-25-4 INACTIVE RULE

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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 View Active Rule
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.

There are no electronic rulemaking documents for rules filed prior to August 14, 2018. For rulemaking documents for rules filed prior to this date, please contact the appropriate agency's Rules Coordinator.