§ 44-14-15 - Dividends excluded from income.
SECTION 44-14-15
§ 44-14-15 Dividends excluded from income.– There shall not be included in a taxpayer's net income dividends received fromthe shares of stock of:
(1) Any corporation if over fifty percent (50%) of thecorporation's value was apportioned to this state in determining the tax lastimposed on it by chapter 11 of this title;
(2) Any utility if over fifty percent (50%) of the utility'sgross earnings was apportioned to this state in determining the tax lastimposed on it by chapter 13 of this title;
(3) Any banking institution liable to a tax under thischapter; and
(4) Any corporation specified in § 44-11-1(1)(vii).