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DE HB128
Bill
Status
Introduced
4/21/2023
Primary Sponsor
Paul Baumbach
Click for details
AI Summary
- Amends Delaware personal income tax brackets effective for taxable years beginning after December 31, 2023
- Creates a new 0% tax rate on taxable income less than $2,000
- Reduces the tax rate on income between $2,000 and $5,000 from 2.2% to 1.9%
- Expands the top tax bracket from $60,000+ at 6.6% to include income between $60,000-$100,000 at 6.6%, with a new 6.9% rate on income exceeding $100,000
- Consolidates the prior $20,000-$25,000 bracket into the $10,000-$25,000 bracket at 4.8%
Legislative Description
An Act To Amend Title 30 Of The Delaware Code Relating To Personal Income Tax.
Last Action
Reported Out of Committee (Revenue & Finance) in House with 3 Favorable, 3 On Its Merits
5/17/2023
Committee Referrals
Revenue & Finance4/21/2023
Full Bill Text
No bill text available