Delaware General Assembly

House Revenue & Finance 6/25/15

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

6/25/15

Collins

Sen. Hocker

Reps. D. Short, Hudson, Briggs King, Dukes, Gray, Hensley, Kenton, Outten, Ramone, Spiegelman, Wilson
Sen. Bonini

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO BUSINESS TAX CREDITS.

This Bill will establish a tax credit for any business with operations in Delaware that hires a new full time employee in an amount that is equal to the amount of workers compensation and unemployment insurance payments that the employer makes on behalf of that employer. The employers will be able to claim 100% of the tax in the first year of new employment, 75% in the second year, and 25% in the third year. The Tax Credit will be based off the number of full time employees that were employed in the year preceding the first year a tax credit is claimed. The Bill requires that employers with 21-50 employees hire 5 new employees before they are eligible for the tax credit, and employers with 51+ employees hire 10 new employees before they are eligible for the tax credit. This bill will become effective the January 1 following its enactment. The Credit will expire for any tax year that begins after December 31, 2021.

N/A

N/A

N/A

N/A

View HTML View PDF