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DE HB240

Bill

Official Source

Status

Introduced

6/17/2009

Primary Sponsor

John Kowalko

Click for details

Origin

House of Representatives

145th General Assembly

AI Summary

  • Increases the maximum corporate franchise tax cap from $165,000 to $195,000 for any full taxable year.
  • Maintains the minimum corporate franchise tax at $75.
  • Expected to generate approximately $45.0 million in additional annual revenue for Delaware.
  • Requires three-fifths majority approval in both houses of the General Assembly.
  • Amends Section 503(c) of Title 8 of the Delaware Code.

Legislative Description

An Act To Amend Title 8 Of The Delaware Code Relating To Corporate Franchise Tax.

Last Action

Stricken

6/25/2009

Committee Referrals

Revenue & Finance6/17/2009

Full Bill Text

No bill text available