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DE HB216

Bill

Official Source

Status

Introduced

6/30/2015

Primary Sponsor

John Kowalko

Click for details

Origin

House of Representatives

148th General Assembly

AI Summary

  • Increases the maximum annual corporate franchise tax from $180,000 to $195,000, a $15,000 increase
  • Applies to taxes calculated under both the authorized shares method (paragraph a)(1)) and the assumed par value capital method (paragraph a)(2))
  • Minimum tax amounts remain unchanged at $175 for the authorized shares method and $350 for the assumed par value capital method
  • Effective date is January 1st following enactment
  • Requires three-fifths approval from both chambers of the General Assembly for passage

Legislative Description

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

Last Action

Reported Out of Committee (REVENUE & FINANCE) in House with 8 On Its Merits

3/18/2016

Committee Referrals

Revenue & Finance6/30/2015

Full Bill Text

No bill text available