§ 44-11-14.6 - Allocation and apportionment – Manufacturers.
SECTION 44-11-14.6
§ 44-11-14.6 Allocation and apportionment– Manufacturers. – Notwithstanding any other provision of the general laws, a taxpayer, asdescribed in § 44-11-14(a), whose principal business is described insector 31, 32, or 33 of the North American Industry Classification System, asadopted by the United States Office of Management and Budget and as revisedfrom time to time, may, in lieu of apportioning its net income to this statebased on the allocation fraction described in § 44-11-14(a), elect for anyyear to apportion its net income to this state based on the followingallocation fraction:
(1) for the tax year beginning on or after January 1, 2004,but before January 1, 2005, thirty percent (30%) of the property factordetermined pursuant to § 44-11-14(a)(1) (the "property factor"), thirtypercent (30%) of the payroll factor determined pursuant to §44-11-14(a)(3) (the "payroll factor"), and forty percent (40%) of the salesfactor determined pursuant to § 44-11-14(a)(2) (the "sales factor");
(2) for tax years beginning on or after January 1, 2005,twenty-five percent (25%) of the property factor, twenty-five percent (25%) ofthe payroll factor and fifty percent (50%) of the sales factor.