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DE HB128

Bill

Official Source

Status

Passed

7/1/2011

Primary Sponsor

Edward Bennett

Click for details

Origin

House of Representatives

146th General Assembly

AI Summary

  • Repeals Chapter 77, Volume 77 of the Laws of Delaware in its entirety
  • Reduces the top personal income tax rate from 6.95% to 6.75% on taxable income in excess of $60,000 for tax years beginning after December 31, 2011 and before January 1, 2014
  • Maintains existing tax brackets of 2.2%, 3.9%, 4.8%, 5.2%, and 5.55% on lower income thresholds ($2,000 to $60,000)
  • Reinstates the 2014 sunset provision that reduces the top rate to 5.95% for tax years beginning after December 31, 2013
  • Takes effect upon enactment

Legislative Description

An Act To Amend Title 30 Of The Delaware Code And Chapter 77, Volume 77 Of The Laws Of Delaware Relating To Taxes On Personal Income.

Last Action

Signed by Governor

7/1/2011

Committee Referrals

Finance6/7/2011
Revenue & Finance5/13/2011

Full Bill Text

No bill text available