(a)  Any corporation may file a claim for refund with the tax administrator at any time within two (2) years after the tax has been paid. If the tax administrator determines that the corporation has paid a tax in excess of the amount lawfully due, he or she shall allow a refund or permit a credit. If the tax administrator shall determine that the excess payment was made in good faith, the tax administrator may make the refund with interest at the annual rate provided by § 44-1-7.1 from the date of the excess payment.

Terms Used In Rhode Island General Laws 44-13-16

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(b)  Any corporation whose claim for refund has been denied may, within thirty (30) days from the date of the mailing by the tax administrator of the notice of the decision, request a hearing and the tax administrator shall, as soon as practicable, set a time and place for the hearing and shall notify the applicant.

History of Section.
P.L. 1942, ch. 1212, art. 6, § 7; G.L. 1956, § 44-13-16; P.L. 1985, ch. 181, art. 62, § 1; P.L. 1987, ch. 57, art. 3, § 1; P.L. 1992, ch. 388, § 3.