(a)  For tax years beginning on or after January 1, 2012, a limited-liability partnership registered under § 7-12-56, shall file a return in the form and containing the information as prescribed by the tax administrator as follows:

(1)  If the fiscal year of the limited-liability partnership is the calendar year, on or before the fifteenth day of April in the year following the close of the fiscal year; and

(2)  If the fiscal year of the limited-liability partnership is not a calendar year, on or before the fifteenth day of the fourth month following the close of the fiscal year.

Terms Used In Rhode Island General Laws 7-12-60

  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(b)  For tax years beginning after December 31, 2015, a limited-liability partnership registered under § 7-12-56, shall file a return, in the form and containing the information as prescribed by the tax administrator, and shall be filed on or before the date a federal tax return is due to be filed, without regard to extension.

(c)  An annual charge, equal to the minimum tax imposed upon a corporation under § 44-11-2(e), shall be due on the filing of the limited-liability partnership’s return filed with the tax administrator and shall be paid to the division of taxation.

(d)  The annual charge is delinquent if not paid by the due date for the filing of the return and an addition of one hundred dollars ($100) to the charge is then due.

History of Section.
P.L. 2011, ch. 151, art. 19, § 1; P.L. 2016, ch. 142, art. 13, § 4.