Apportionment Exclusion for Medical & Pharmaceutical Manufacturers
A Rhode Island manufacturer of Medical Instruments, Supplies or Pharmaceuticals whose facility is registered and certified by the United States Food & Drug Administration may modify the RI business income apportionment formula for the current tax year.
- The property value portion in the numerator may be reduced by the increase in book value of tangible personal property in Rhode Island in the current taxable year over the previous year.
- The wage value portion in the numerator may be reduced by the increase in total qualified payroll in Rhode Island in the current taxable year over the previous year. http://www.rilin.state.ri.us/Statutes/TITLE44/44-11/44-11-14.1.HTM
Jean Robertson