Form Ri-2441 - Adult And Child Day Care Assistance And Development Tax Credit - 2012 Page 2
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2RI 2441
State of Rhode Island and Providence Plantations
Department of Revenue
Division of Taxation
DAYCARE ASSISTANCE AND DEVELOPMENT TAX CREDIT (R.I.G.L. 44-47)
--> TAXPAYERS MUST PROVIDE A RHODE ISLAND DAYCARE LICENSE NUMBER OR CERTIFICATION
NUMBER
--> RHODE ISLAND CHILDCARE FACILITIES MUST AGREE TO ACCEPT CHILDREN WHOSE CHILD
CARE SERVICES ARE PAID FOR IN FULL OR IN PART BY THE RHODE ISLAND DEPARTMENT OF
HUMAN SERVICES
--> DOCUMENTATION FOR THIS CREDIT MUST BE ATTACHED TO THIS FORM
CREDITS FOR DAYCARE ASSISTANCE AND DEVELOPMENT (R.I.G.L. 44-47) DEFINITION:
“Amount expended” means the actual sums of money spent, or the cost or other basis for Federal tax purposes of real
or tangible personal property donated or dedicated to the establishment of a daycare center. In the case of purchased
daycare (Section I) the “amount expended” cannot include sums in excess of the actual cost of daycare services pur-
chased for each individual child or dependent adult.
LIMITATIONS OF CREDIT, CARRYOVERS AND CONSOLIDATION:
1.
No credit is allowed unless the daycare facility has a RI license under RIGL 42-72.1, or in the case of a
daycare for dependent adults, the facility must be certified by the Department of Elderly Affairs. The license
or certification number MUST be shown were indicated on the form.
2.
The credit is allowed against the business corporation tax (44-11), public service corporation tax (44-13)
(except the tax in 44-13-13), the bank excise tax (44-14) and the insurance companies’ gross premiums tax
(44-17).
3.
Maximum annual credit for purchased daycare in RI (Section I) is $30,000 and in the case of those
taxes having minimum amounts, the credit cannot reduce the tax to less than the minimum tax for the taxpayer.
The balance of unused credit may not be carried over to any subsequent tax year.
4.
Maximum total annual credit for daycare establishment and operations in RI (Section II and III) and for
amounts foregone (Section IV) is $30,000; the total credit cannot reduce the tax below its stated minimum and
the balance of unused credit may be carried over for 5 years.
5.
Credits carried over to succeeding taxable years may not be used if during that time the taxpayer’s
facility was operated for less than 6 months.
6.
Amounts expended for purchased daycare (Section I) are to be solely to provide care for the dependent
children or adults of the taxpayer’s employees or employees of commercial tenants of the taxpayer during the
employees’ hours of employment.
7.
Amounts expended for the establishment and operation of a daycare facility (Sections II and III) qualify
if the facility is used primarily by the dependent children or adults of the taxpayer’s employees during the
employees’ hours of employment.
8.
The credit is 30% of the total amount foregone in rent or lease payments for rental or lease space in RI for
daycare services. The amount foregone is the difference between fair market rental and actual rental. The
burden of proof of fair market value is upon the claimant taxpayer and such proof should include prior
rental/lease of the same property. Where the property was not previously rented or leased, appraisals of the
property by competent parties independent of the claimant taxpayer should be used.
9.
In the case of a business corporation filing a consolidated return (44-11), a credit will be allowed against
the tax of only that corporation which qualifies for the credit and will not be allowed against the tax of other
corporations that may join the filing of a consolidated state tax return.
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