§ 7-6.2-4. Application of general corporation law - Business corporation tax - Other taxes and programs. (a) The provisions of chapter 1.2 of title 7 are applicable to workers' cooperatives.
(b) All workers' cooperatives shall enjoy the powers and privileges, and be subject to the duties, restrictions, and liabilities of other corporations organized under chapter 1.2 of title 7, except where inconsistent with the intent and purpose of this chapter.
(c) This chapter takes precedence in the event of a conflict with the provisions of chapter 1.2 of title 7.
(d) All workers' cooperatives shall be subject to the provisions of chapter 11 of title 44 dealing with the taxation of corporations and chapters 29 through 44 of title 28.
(e) Except as provided in subsection (f) of this section, workers' cooperatives shall be subject to the provisions of title 28 as employers.
(f) To the extent that a workers' cooperative has shareholders (owners) who are employees (members), the workers' cooperative shall be subject to the provisions of title 28 related to employees including, but not limited to: department of labor and training payroll taxes, temporary disability insurance, state unemployment insurance and workers' compensation insurance.
History of Section. (P.L. 2017, ch. 370, § 1; P.L. 2017, ch. 378, § 1.)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
