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DE HB256

Bill

Official Source

Status

Introduced

6/24/2021

Primary Sponsor

John Kowalko

Click for details

Origin

House of Representatives

151st General Assembly

AI Summary

  • Amends Delaware personal income tax brackets and rates for taxable years beginning after December 31, 2021
  • Reduces tax rates in lower and middle-income brackets: 2.0% (income $2,000-$5,000), 4.0% (income $5,000-$20,000), and 5.5% (income $20,000-$60,000)
  • Creates two new higher-income tax brackets: 6.75% on income between $125,000-$250,000 and 6.95% on income exceeding $250,000
  • Maintains 6.6% tax rate for income between $60,000-$125,000
  • Simplifies existing tax structure by combining some brackets while adding additional brackets for higher earners

Legislative Description

An Act To Amend Title 30 Of The Delaware Code Relating To Personal Income Tax.

Last Action

Introduced and Assigned to Revenue & Finance Committee in House

6/24/2021

Committee Referrals

Revenue & Finance6/24/2021

Full Bill Text

No bill text available