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Rhode Island Banking Institution Excise Tax Return
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, or request a six-month extension here .Extracted from PDF file 2024-rhode-island-form-t-74.pdf, last modified April 2012Banking Institution Excise Tax Return
State of Rhode Island Division of Taxation 2024 Form T-74 24112099990101 Banking Institution Excise Tax Return Name Federal employer identification number Address For the period ending: Amended Address 2 City, town or post office State ZIP code E-mail address *MUST ATTACH COPY OF FEDERAL FORM 1120 OR PRO-FORMA Schedule A - Computation of Tax Rhode Island Taxable Income Tax and Credits 1 Federal Taxable Income from Federal Form 1120, line 28........................................................ 2 Total Deductions from page 2, Schedule B, line 6..................................................................... 1 3 Total Additions from page 2, Schedule C, line 7........................................................................ 4 Adjusted taxable income. Subtract line 2 from line 1 then add line 3....................................... 3 5 Capital investment deduction ................................................................................................... 6 Rhode Island adjusted taxable income. Subtract line 5 from line 4................................................ 5 7 Rhode Island Apportionment Ratio from page 3, Schedule F, line 5. Carry to six (6) decimal places 8 Apportioned Rhode Island taxable income. Multiply line 6 by line 7........................................ 7 9 Rhode Island income tax. Multiply line 8 by the tax rate of 9% (0.09)...................................... 9 2 4 6 _ . __________ 8 10 Rhode Island Credits from Schedule B-CR, Business Entity Credit Schedule, line 19.................. 10 11 Tax. Subtract line 10 from line 9, but not less than the minimum tax of $100.............................................................. 11 12 Payments made on 2024 BUS-EST, Business Tax Estimated Payment 12 13 Other payments........................................................................... 13 Balance Due Refund 14 TOTAL PAYMENTS. Add lines 12 and 13 ...................................................................................... 14 15 Net tax due. Subtract line 14 from line 11....................................................................................... 15 16 (a) Interest (b) Penalty (c) Form 2220 Interest 16 17 Total due with return. Add lines 15 and 16............................................................................... 18 Overpayment. Subtract lines 11 and 16 from line 14............................................................... 17 18 19 19 Amount of overpayment to be applied to 2025 estimated tax................................................... 20 Amount to be refunded. Subtract line 19 from line 18.............................................................. 20 IMPORTANT INFORMATION Return is due on or before the 15th day of the 4th month after the close of the taxable year except for filers with a fiscal year end of June 30. The due date for those filers is September 15. Rhode Island has an Electonic Mandate for filing a return and remitting a payment. See the 2024 T-74 Instructions for more information on the requirements and how to file and pay Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of knowledge and belief, it is true, accurate and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge Authorized officer signature Print name Date Telephone number Paid preparer signature Paid preparer address Print name City, town or post office Date State ZIP code Telephone number PTIN May the Division of Taxation contact your preparer? YES Revised 08/2024 State of Rhode Island Division of Taxation 2024 Form T-74 24112099990102 Banking Institution Excise Tax Return Name Federal employer identification number Schedule B - Deductions 1 Exempt Interest and Dividends (attach a schedule) ................................................................................... 2 Bonus Depreciation /Section 179 Expense Adjustment ............................................................................. 1 3 Non-security Gains (attach a schedule) ..................................................................................................... 3 2 4 Modification for Tax Incentives for Employers under RIGL § 44-55. Attach Form RI-107......................... 4 5 Other Deductions (attach a schedule) ........................................................................................................ 5 6 TOTAL DEDUCTIONS. Add lines 1 through 5. Enter here and on page 1, Schedule A, line 2................. 6 Schedule C - Additions 1 Interest or Dividends on Federal, State and Municipal obligations, etc. not included in Schedule A, line 1............... 1 2 Rhode Island Bank Excise Tax ................................................................................................................... 2 3 Bonus Depreciation Adjustment ................................................................................................................. 3 4 Non-security Losses (attach a schedule) .................................................................................................... 5 Taxable portion of Paycheck Protection Program Loan amount under RIGL § 44-14-11.......................... 5 4 6 Other income not included in Federal Taxable Income (attach a schedule) ............................................... 6 7 TOTAL ADDITIONS. Add lines 1 through 6. Enter here and on page 1, Schedule A, line 3...................... 7 Schedule D - Final Determination of Net Income by Federal Government Has the Federal Government changed your taxable income for any prior year which has not yet been reported to the Tax Administrator? If yes, complete an amended Form T-74 immediately and submit to the Tax Administrator with any remittance that may be due. Check the box on page 1 of Form T-74 indicating the return is an amended T-74. NOTE: Changes made by the Federal Government in the income of any prior year must be reported to the Tax Administrator within 30 days after a final determination. Schedule E - General Information Location of principal place of business in Rhode Island Location of corporation’s books and records List states to which you are liable for income or excise taxes for the taxable year US Business Code Number State and date of incorporation President Treasurer Page 2 No Yes State of Rhode Island Division of Taxation 2024 Form T-74 24112099990103 Banking Institution Excise Tax Return Name Federal employer identification number Schedule F - Apportionment Average Value of Property 1a Land........................................................................ b Depreciable Assets before Depreciation is Deducted................................................................. Column A Column B Rhode Island Everywhere 1a 1b c Loans.......................................................................... 1c d Credit Card Receivables......................................... 1d e Rent (8 times annual rental rate)............................. 1e f Totals. For columns A and B, add lines 1a - 1e...... 1f g Ratio in Rhode Island. Divide line 1f, column A by line 1f, column B. Carry to six (6) decimal places.................. 1g Receipts 2a Lease/Rental of Real Property................................. 2a b Lease/Rental of Transportation Property................. 2b c Interest from Loans Secured by Real Property........ 2c d Receipts from Credit Card Receivables..................... 2d e Other Interest Not Secured by Real Property............. 2e f Receipts from Services........................................... 2f g Interest and Dividends............................................. 2g h Interest Not Taxed by the Federal Government....... 2h i Capital Gains................. .......................................... 2i j Other Income........................................................... 2j k Totals. For columns A and B, add lines 2a - 2j....... 2k l Ratio In Rhode Island. Divide line 2k, column A by line 2k, column B. Carry to six (6) decimal places.................... _ . _______ 2l _ . _______ Payroll 3a Salaries and Wages Paid or Incurred...................... 3a b Ratio In Rhode Island. Divide line 3a, column A by line 3a, column B. Carry to six (6) decimal places................ 3b _ . _______ Ratio Calculation 4 Total of Rhode Island Ratios used from lines 1g, 2l and 3b. Carry to six (6) decimal places............................... 5 RI Apportionment Ratio. Divide line 4 by 3 if all ratios used or if not, by the number of ratios used. Enter 4 _ . _______ here and on page 1, Schedule A, line 7. Carry to six (6) decimal places............................................................ 5 _ . _______ Page 3
T-74 - Bank Excise
More about the Rhode Island Form T-74 Corporate Income Tax TY 2024
We last updated the Banking Institution Excise Tax Return in March 2025, so this is the latest version of Form T-74, fully updated for tax year 2024. You can download or print current or past-year PDFs of Form T-74 directly from TaxFormFinder. You can print other Rhode Island tax forms here.
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TaxFormFinder has an additional 78 Rhode Island income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 7004 | Extension Request |
| Form 1099PT | 1099 PT form |
| Form 1120S | CYE RI-1120S Return to be filed by Subchapter S Corporations |
| Form BUS-EXT | Business Tax Automatic Extension Request - For T-72 and T-74 |
| Form BUS-V | Business Tax Payment Voucher Form - For RI-1120POL, T-71, T-71A, T-71SP, T-72, T-74 and T-86 |
View all 79 Rhode Island Income Tax Forms
Form Sources:
Rhode Island usually releases forms for the current tax year between January and April. We last updated Rhode Island Form T-74 from the Division of Taxation in March 2025.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Rhode Island Form T-74
We have a total of twelve past-year versions of Form T-74 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2024 Form T-74
T-74 - Bank Excise
2023 Form T-74
Microsoft Word - Incentive and Credit Overview for DLT
2022 Form T-74
Microsoft Word - Incentive and Credit Overview for DLT
2021 Form T-74
2021 T-74_Layout 1
2020 Form T-74
2020 T-74_Layout 1
2019 Form T-74
Microsoft Word - Incentive and Credit Overview for DLT
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