The bill amends Section 44-11-2 of the General Laws concerning the Business Corporation Tax in Rhode Island. It repeals the minimum tax requirement for corporations, which previously mandated a minimum tax of four hundred fifty dollars ($450) for certain corporations, reducing it to four hundred dollars ($400) for tax years starting on or after January 1, 2017. This repeal aims to alleviate the tax burden on corporations. The act will take effect upon passage.

Statutes affected:
101: 44-11-2