§ 44-11-12 - Dividends and interest excluded from net income.
SECTION 44-11-12
§ 44-11-12 Dividends and interest excludedfrom net income. – There shall not be included in a taxpayer's net income:
(1) Dividends received from the shares of stock of:
(i) Any banking institution liable to a tax under chapter 14of this title; or
(ii) Any corporation liable to a tax imposed by this chapter;or
(2) Dividends received from the shares of stock of, orinterest received on, the bonds, debentures, or other evidences of indebtednessor the distributive share of the taxable income of any public servicecorporation or company liable to a tax imposed by chapter 13 of this title.