Bill Text: DE HB102 | 2017-2018 | 149th General Assembly | Draft

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Bill Title: An Act To Amend Title 8 Of The Delaware Code Relating To Corporation Franchise Tax.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2018-01-23 - Stricken in House [HB102 Detail]

Download: Delaware-2017-HB102-Draft.html

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SPONSOR:	Rep. Kowalko & Sen. Henry
Reps. Lynn, Matthews, Mitchell, Osienski; Sen. Marshall

 

HOUSE OF REPRESENTATIVES

149th GENERAL ASSEMBLY

 

HOUSE BILL NO. 102

 

AN ACT TO AMEND TITLE 8 OF THE DELAWARE CODE RELATING TO CORPORATION FRANCHISE TAX.

 

 

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three-fifths of all members elected to each house thereof concurring therein):

 

Section 1. Amend § 503, Title 8 of the Delaware Code by making deletions as shown by strikethrough and insertions as shown by underline as follows:

§ 503. Rates and computation of franchise tax.

(c) In no case shall the tax on any corporation for a full taxable year, computed by paragraph (a)(1) of this section be more than  $180,000  $240,000  nor less than $175; or computed by paragraph (a)(2) of this section be more than  $180,000  $240,000  nor less than $350.

 

SYNOPSIS

This bill increases the maximum annual corporation franchise tax in the amount of $60,000, from $180,000 to $240,000.