HB 106 Summary

• Amends Delaware's personal income tax code to add two new tax brackets for taxable years beginning after December 31, 2016
• Creates a 7.10% tax bracket for taxable income in excess of $125,000 but not exceeding $250,000
• Creates a 7.85% tax bracket for taxable income in excess of $250,000
• Limits the existing 6.6% tax bracket to income between $60,000 and $125,000 (previously applied to all income over $60,000)
• Maintains all existing tax brackets for income below $125,000 with no changes to their rates or thresholds