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DE HB158
Bill
Status
4/27/2021
Primary Sponsor
Lyndon Yearick
Click for details
AI Summary
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Creates a $500 refundable tax credit for Delaware residents earning between $18,000 and $30,000 annually in wages, tips, and other W-2 compensation
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Married couples filing jointly with combined W-2 income between $36,000 and $60,000 qualify for a $1,000 refundable tax credit
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Increases the personal tax credit from $110 to $500 per exemption for qualifying lower-income individuals
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Makes the personal credit refundable, meaning taxpayers receive any excess credit amount as a tax refund even if it exceeds their tax liability
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Applies to tax years beginning after December 31, 2021
Legislative Description
An Act To Amend Title 30 Of The Delaware Code Relating To Personal Income Tax Credits.
Last Action
Introduced and Assigned to Revenue & Finance Committee in House
4/27/2021