SPONSOR: |
Rep. Longhurst & Rep. Schwartzkopf & Rep. Viola & Sen. Blevins & Sen. McBride & Sen. Henry |
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HOUSE OF REPRESENTATIVES 147th GENERAL ASSEMBLY |
HOUSE BILL NO. 50 |
AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO TAXES ON PERSONAL INCOME. |
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 §1102(a)(14), Title 30 of the Delaware Code, by making insertions as shown by underlining and deletions as shown by strike through as follows:
(14) For taxable years beginning after December 31, 2013, the amount of tax shall be determined as follows:
2.2% of taxable income in excess of $2,000 but not in excess of $5,000;
3.9% of taxable income in excess of $5,000 but not in excess of $10,000;
4.8% of taxable income in excess of $10,000 but not in excess of $20,000;
5.2% of taxable income in excess of $20,000 but not in excess of $25,000;
5.55% of taxable income in excess of $25,000 but not in excess of $60,000; and
5.95%
6.6% of taxable income in excess of $60,000.
Section 2.This Act shall be effective for taxable years beginning after December 31, 2013.
SYNOPSIS
This Act establishes a tax rate of 6.6% on taxable income in excess of $60,000. |