SPONSOR:

Rep. Schwartzkopf & Rep. Longhurst & Rep. Viola & Sen. Blevins & Sen. McBride & Sen. Henry

 

 

HOUSE OF REPRESENTATIVES

147th GENERAL ASSEMBLY

 

HOUSE BILL NO. 265

 

 

AN ACT TO AMEND TITLE 6 AND TITLE 8 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.

 


BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

 


Section 1. Amend 15-1208(a), Title 6 of the Delaware Code, by making deletions as shown by strike through and insertions as shown by underline as follows:

(a) Every partnership that has filed a statement of partnership existence shall pay an annual tax, for the use of the State of Delaware, in the amount of $250 $300.

Section 2. Amend 17-1109(a), Title 6 of the Delaware Code, by making deletions as shown by strike through and insertions as shown by underline as follows:

(a) Every domestic limited partnership and every foreign limited partnership registered to do business in the State of Delaware shall pay an annual tax, for the use of the State of Delaware, in the amount of $250 $300.

Section 3. Amend 18-1107(b), Title 6 of the Delaware Code, by making deletions as shown by strike through and insertions as shown by underline as follows:

(b) Every domestic limited liability company and every foreign limited liability company registered to do business in the State of Delaware shall pay an annual tax, for the use of the State of Delaware, in the amount of $250 $300.

Section 4. Amend 503(a)(1), Title 8 of the Delaware Code, by making deletions as shown by strike through and insertions as shown by underline as follows:

(1) Where the authorized capital stock does not exceed 5,000 shares, $75 $175; where the authorized capital stock exceeds 5,000 shares, but is not more than 10,000 shares, $150 $250; and the further sum of $75 on each 10,000 shares or part thereof.

Section 5. Amend 503(a)(2), Title 8 of the Delaware Code, by making deletions as shown by strike through and insertions as shown by underline as follows:

(2) Seventy five One hundred and seventy-five dollars where the assumed no-par capital of the corporation, found in the manner provided in this paragraph, does not exceed $500,000; $150 $250 where the assumed no-par capital exceeds $500,000 but is not more than $1,000,000; and the further sum of $75 for each $1,000,000 or part thereof of such additional assumed no-par capital.

Section 6. Amend 503(c), Title 8 of the Delaware Code, by making deletions as shown by strike through and insertions as shown by underline as follows:

(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 nor less than $75 $175; or computed by paragraph (a)(2) of this section be more than $180,000 nor less than $350.

Section 7. This Act shall be effective as of January 1, 2014.


SYNOPSIS

This Act increases the annual tax assessed on partnerships, limited partnerships and limited liability companies on file with the Secretary of State from $250 to $300 and increases the corporation franchise tax by $100 for those corporations that file on the authorized shares method.