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DE HB233

Bill

Official Source

Status

Introduced

6/16/2023

Primary Sponsor

Michael Ramone

Click for details

Origin

House of Representatives

152nd General Assembly

AI Summary

  • Raises the minimum income subject to Delaware personal income tax from $2,000 to $2,500, effective for taxable years beginning after December 31, 2024
  • Collapses the current 6 income tax brackets into 3 brackets for taxable years beginning after December 31, 2024
  • Establishes new tax rates: 2.0% on income between $2,500-$10,000, 4.0% on income between $10,000-$25,000, and 5.0% on income over $25,000
  • Reduces tax rates for most taxpayers compared to the current bracket structure that applies through December 31, 2023
  • Maintains current tax rates and brackets through December 31, 2023

Legislative Description

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

Last Action

Motion to Release Failed

1/23/2024

Committee Referrals

Revenue & Finance6/16/2023

Full Bill Text

No bill text available