Bill Text: DE HB52 | 2013-2014 | 147th General Assembly | Draft
Bill Title: An Act To Amend Chapter 78, Volume 77 Of The Laws Of Delaware Relating To Corporation Franchise Taxes.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Passed) 2013-03-28 - Signed by Governor [HB52 Detail]
Download: Delaware-2013-HB52-Draft.html
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SPONSOR: |
Rep. Longhurst & Rep. Schwartzkopf & Rep. Viola & Sen. Blevins & Sen. McBride & Sen. Henry |
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HOUSE OF REPRESENTATIVES 147th GENERAL ASSEMBLY |
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HOUSE BILL NO. 52 |
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AN ACT TO AMEND CHAPTER 78, VOLUME 77 OF THE LAWS OF DELAWARE RELATING TO CORPORATION FRANCHISE TAXES. |
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 §70, Chapter 78, Volume 77 of the Laws of Delaware by making deletions as shown by strike through as follows:
Section 70.Section 57. and Section 58. of this Act shall
sunset four (4) years from the last effective date of such sections.
SYNOPSIS
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This bill removes the sunset provision in 77 Del. Laws, c. 78 relating to the corporation franchise tax. The bill keeps in place the following current corporation franchise tax rates:the maximum franchise tax of $180,000, the assumed par value multiplier of $350, and the minimum assumed par value tax of $350. |
