DE HB495

Reduces gross receipts tax rates across multiple business and occupational tax categories by approximately 6.7% effective for taxable periods beginning after December 31, 2010.

Specific rate reductions include: § 2301(d)(1) from 0.4147% to 0.3869%, § 2502(c)(1) from 0.6739% to 0.6287%, § 2905(b)(1) from 0.7776% to 0.7255%, and similar reductions in 13 other code sections.

Funds the estimated $13 million tax reduction through a reduction of 500 state workforce positions (less than 1.7% of workforce) achieved through attrition on a rolling basis.

Aims to allow Delaware businesses to retain $13 million in additional earnings while offsetting revenue loss through state payroll savings.