Delaware General Assembly

Signed 1/28/11

The General Assembly has ended, the current status is the final status.

1/18/11

Longhurst

Reps. Viola, Atkins, Barbieri, B. Bennett, Blakey, Bolden, Brady, Briggs King, Carson, Gilligan, Heffernan, Hocker, Hudson, Jaques, J. Johnson, Q. Johnson, Keeley, Kenton, Kowalko, Lavelle, Lee, Manolakos, Miro, Mitchell, Mulrooney, Osienski, Outten, Peterman, Ramone, Schooley, Schwartzkopf, Scott, B. Short, D. Short, Walker, D.E. Williams, D.P. Williams, Willis, Wilson
Sen. Ennis, Connor

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO MANUFACTURERS AND WHOLESALERS.

This Act exempts from the Wholesale Merchants’ Gross Receipts Tax and from the Manufacturers’ Gross Receipts Tax the gross receipts realized in certain intermediate transactions engaged in by petroleum product refiners with certain specialized trade parties during the petroleum refining process. The Act exempts from the Wholesale Merchants’ Gross Receipts Tax the gross receipts from (i) sales of crude oil by a crude oil wholesaler to a petroleum product refiner, (ii) sales of intermediate petroleum products that have been partially refined by a petroleum product refiner to an intermediate petroleum products wholesaler and from an intermediate petroleum products wholesaler back to a petroleum product refiner, (iii) sales of finished petroleum products by a petroleum product refiner to a finished petroleum products wholesaler, and (iv) sales of finished petroleum products by a finished petroleum products wholesaler to a wholesaler, if the finished petroleum products wholesaler and the wholesaler stand in a control relationship, i.e., one owns, directly or indirectly, 100% of the other or a third party owns, directly or indirectly, 100% of both the finished petroleum products wholesaler and the wholesaler. Proceeds from sales of a petroleum product refiner to an intermediate petroleum products wholesaler are similarly exempted from the Manufacturers’ Gross Receipts Tax. It is anticipated that these changes will not cause a decrease in the Wholesale Merchants’ Gross Receipts Tax or the Manufacturers’ Gross Receipts Tax.

78:1

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Takes effect upon being signed into law

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