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 all corporations, including small business corporations with an S election, and reduced it to four hundred dollars ($400) for tax years beginning on or after January 1, 2017. The act will take effect upon passage.

Statutes affected:
2022: 44-11-2