The bill amends Section 44-18-30 of the General Laws in Chapter 44-18, titled "Sales and Use Taxes — Liability and Computation," to clarify and expand the exemptions from sales and use taxes in Rhode Island. Key insertions include a new title for the section, "44-18-30. Gross receipts exempt from sales and use taxes," along with detailed definitions for terms such as "newspaper," "returnable containers," and "consumed" in manufacturing contexts. The bill outlines various exemptions, including those for newspapers, school meals, charitable organizations, gasoline, and manufacturing-related purchases. It also specifies the tax exemption process for contractors working with exempt organizations and conditions under which certain tangible personal property and utilities used in manufacturing are exempt.

Additionally, the bill introduces new exemptions for specific items and situations, such as water for domestic use, sales of boats to bona fide nonresidents, and youth activity equipment sold by nonprofit organizations. It also includes exemptions for farm equipment, flags, textbooks, and certain food items, while detailing conditions for these exemptions. Notably, the bill repeals the existing exemption for the sale of liquor and wine from sales tax but allows Class A licensees to sell alcoholic beverages without minimum markup regulations. The changes aim to clarify tax obligations and are set to take effect on July 1, 2025. There are no deletions specified in the provided text.