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DE HB181
Bill
Status
Passed
7/5/2012
Primary Sponsor
Edward Bennett
Click for details
AI Summary
- Adds a new tax credit subsection (d) to § 4102, Title 30 of Delaware Code for telegraph and telephone companies effective January 1, 2013
- Provides an 8 percent credit against tax liability for Delaware communications infrastructure investment costs in 2013, limited to the taxpayer's total tax liability for the current and preceding year
- Reduces the credit to 4 percent effective January 1, 2014, limited to the taxpayer's tax liability for the current year only
- Defines "Delaware communications infrastructure investment cost" as the average annual aggregate cost of capital investment in wired or wireless communications equipment placed in service in Delaware during the current and preceding calendar years, with only one taxpayer entitled to claim the credit per item of infrastructure investment
- Repeals Chapter 41, Title 30 of Delaware Code effective January 1, 2015, and clarifies that the tax credit shall not be considered an unforeseen change in service provider costs under Title 26, § 707(c)(8)
Legislative Description
An Act To Amend Title 30 Of The Delaware Code Relating To State Taxes On Telegraph And Telephone Companies.
Last Action
Signed by Governor
7/5/2012
Committee Referrals
Appropriations6/21/2011
Revenue & Finance6/9/2011
Full Bill Text
No bill text available