(a) A corporation or public service company whose principal business in this state is not an activity enumerated in § 44-13-4 but engages in that activity in this state, shall be subject to tax pursuant to this chapter as measured by the gross earnings derived from the activity in this state and computed at the rates set forth in § 44-13-4. The corporation or public service company shall also be subject to the tax imposed pursuant to chapter 11 or 30 of this title; provided, that the gross earnings subject to tax pursuant to this section and direct and indirect costs associated with these shall be excluded from the calculation of net income subject to tax pursuant to chapter 11 or 30 of this title. (b) These corporations or public service companies shall maintain records that substantiate proper calculation of net income subject to tax pursuant to chapter 11 or 30 of this title and shall also maintain records of gross earnings subject to tax pursuant to this section and records of associated costs.
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