CHAPTER 317
FORMERLY
HOUSE SUBSTITUTE NO. 2
FOR
HOUSE BILL NO. 500
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND AN ACT ENTITLED "THE TAX REFORM ACT OF 1984", WHICH AMENDS CHAPTER 11, TITLE 30 OF THE DELAWARE CODE, RELATING TO THE REDUCTION OF PERSONAL INCOME TAX RATES APPROXIMATING TEN PERCENT (10%); AND WHICH AMENDS CHAPTER 5, TITLE 8 OF THE DELAWARE CODE, RELATING TO AN INCREASE IN CORPORATION FRANCHISE TAX RATES AND PENALTIES, AND WHICH AMENDS CHAPTER 1, TITLE 8 OF THE DELAWARE CODE, RELATING TO AN INCREASE IN MISCELLANEOUS TAXES AND FEES PAYABLE TO THE SECRETARY OF STATE; AND WHICH AMENDS CHAPTER 23, TITLE 29 OF THE DELAWARE CODE, RELATING TO AN INCREASE IN FEES CHARGED BY THE SECRETARY OF STATE.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (TWO-THIRDS OF THE MEMBERS ELECTED THERETO CONCURRING THEREIN):
Section 1. Amend subsection (a), Section 1102, Subchapter I, Chapter 11, Title 30 of the Delaware Code by striking the subsection in its entirety and substituting in lieu thereof the following:
"(a) A tax is hereby imposed for each taxable year on the entire taxable income of every resident of this State and on the taxable income of every nonresident which is derived from sources within this State.
(1) For taxable years beginning before January 1, 1985, the amount of tax shall be determined as follows:
1.4% of the amount of taxable income not in excess of $1,000; 2.0% of the amount of taxable income in excess of $1,000, but not in excess of $2,000; 3.0% of the amount of taxable income in excess of $2,000, but not in excess of $3,000; 4.2% of the amount of taxable income in excess of $3,000, but not in excess of $4,000; 5.2% of the amount of taxable income in excess of $4,000, but not in excess of $5,000; 6.2% of the amount of taxable income in excess of $5,000, but not in excess of $6,000; 7.2% of the amount of taxable income in excess of $6,000, but not in excess of $8,000; 8.0% of the amount of taxable income in excess of $8,000, but not in excess of $10,000; 8.2 % of the amount of taxable income in excess of $10,000, but not in excess of $15,000; 8.4% of the amount of taxable income in excess of $15,000, but not in excess of $20,000; 8.8% of the amount of taxable income in excess of $20,000, but not in excess of $25,000; 9.4% of the amount of taxable income in excess of $25,000, but not in excess of $30,000; 11.0% of the amount of taxable income in excess of $30,000, but not in excess of $40,000; 12.2% of the amount of taxable income in excess of $40,000, but not in excess of $50,000; 13.5% of the amount of taxable income in excess of $50,000."
(2) For taxable years beginning after December 31, 1984, the amount of tax shall be determined as follows:
1.3% of the amount of taxable income not in excess of $1,000; 1.8% of the amount of taxable income in excess of $1,000, but not in excess of $2,000; 2.7% of the amount of taxable income in excess of $2,000, but not in excess of $3,000; 3.8% of the amount of taxable income in excess of $3,000, but not in excess of $4,000; 4.7% of the amount of taxable income in excess of $4,000, but not in excess of $5,000; 5.6% of the amount of taxable income in excess of $5,000, but not In excess of $6,000; 6.5% of the amount of taxable income in excess of $6,000, but not in excess of $8,000; 7.2% of the amount of taxable income in excess of $8,000, but not in excess of $10,000; 7.4% of the amount of taxable income in excess of $10,000, but not in excess of $15,000; 7.6% of the amount of taxable income in excess of $15,000, but not in excess of $20,000; 7.9% of the amount of taxable income in excess of $20,000, but not in excess of $25,000; 8.5% of the amount of taxable income in excess of $25,000, but not in excess of $30,000; 9.9% of the amount of taxable income in excess of $30,000, but not in excess of $40,000; 11.0% of the amount of taxable income in excess of $40,000, but not in excess of $50,000; 12.2% of the amount of taxable income in excess of $50,000.
Section 2. Effective with respect to franchise taxes for 1984 and years thereafter, amend Section 503, Chapter 5, Title 8 of the Delaware Code as follows:
"(1) Where the authorized capital stock does not exceed 3,000 shares, $30; where the authorized capital stock exceeds 3,000 shares but is not more than 5,000 shares, $35; where the authorized capital stock exceeds 5,000 shares but is not more than 10,000 shares, $70; and the further sum of $35 on each 10,000 shares or part thereof.
(2) Thirty dollars, where the assumed no-par capital of the corporation, found in the manner provided in this paragraph, does not exceed $300,000; $35, where the assumed no-par capital exceeds $300,000 but is not more than $500,000; $70, where such assumed no-par capital exceeds $500,000 but is not more than $1,000,000, and the further sum of $35 for each $1,000,000 or part thereof of such additional assumed no-par capital."
By further striking in subsection (a) the figure "$121" and substituting in lieu thereof "$140";
By striking in subsection (c) the figure "$110,000" and substituting in lieu thereof the figure "$130,000", and by striking out in subsection (c) the figure "$20" and substituting in lieu thereof the figure "$30";
By striking in subsection (h) the figure "$181.50" and substituting in lieu thereof the figure "$200", and by striking out in subsection (h) the figure "$55,000" where it appears and substituting in lieu thereof the figure "$65,000"."
Section 3. Amend Section 502, Chapter 5, Title 8 of the Delaware Code by striking from subsection (c) the figure "$25" and substituting in lieu thereof the figure "$50".
Section 4. Amend subsection (a) of Section 391, Subchapter XVI, Chapter 1, Title 8 of the Delaware Code as follows:
(a) By striking from paragraph (1) the figure "$10" and substituting in lieu thereof the figure "$15";
(b) By striking from paragraph (2) the figure "$10" and substituting in lieu thereof the figure "$15";
(c) By striking from paragraph (3) the figure "$10" and substituting in lieu thereof the figure "$15", and by further striking from paragraph (3) the phrase "or a certificate of reduction of capital,";
(d) By striking from paragraph (8) the figure "$30" and substituting in lieu thereof the figure "$40";
(e) By inserting in paragraph (14), following the words 1136" and before the words "of this title", the words "and §377";
(f) By striking from paragraph (15) the figure "$5" and substituting in lieu thereof the figure "$30"; and
(g) By striking from paragraph (16) the figure "$25" and substituting in lieu thereof the figure "$50".
(h) By inserting in paragraph (19), following the word "charitable" and before the words "or other non-profit corporations," a comma followed by the word "non-stock".
Section 5. Amend Section 2315, Chapter 23, Title 29 of the Delaware Code by striking the Section in its entirety and substituting in lieu thereof the following:
"§2315. Fees.
The fees to be charged by the Secretary of State for the use of the State are as follows: For issuing certificate in private case
under the Great Seal $ 3.00
For issuing certificate in private case
under the seal of office 2.00
For copying, per line .05
For every impression of the Great Seal when used in commissioning public officers, except in commissioning military officers, registration officers and purely honorary officers
or officers without pay 3.00
For receiving, filing and indexing
certificates, statements, affidavits, decrees, agreements, surveys, reports and any other papers pertaining to corporations, except as otherwise
provided in Title 8 of the Delaware
Code 10.00
For receiving, filing and indexing every paper now or hereafter provided by law to be filed with the Secretary of State, except as otherwise provided in Title 8 of the Delaware Code. 10.00
For recording, filing and indexing
certificates, articles of
association and any other paper
required by law to be recorded by the Secretary of State, the same fees as provided by law for the Recorder,
except as otherwise provided in Title 8 of the Delaware Code
For proceeding for reinstatement, including
the receiving, filing and indexing
and all necessary certificates 15.00
For filing certificates of foreign
corporations including the receiving, filing, indexing and issuing necessary certificates, $13 of which shall be paid to each Prothonotary for
filing & c 30.00
For certifying acts or resolutions of a private nature, acts of a private character pertaining to the
acknowledgement or recording of deeds or other papers or to titles or conveyances of real estate,
the fees prescribed in $909 of this title.
For commission to Attorney General,
coroners and notaries public,
each, 15.00
For commission to justices of the peace 10.00
For commission to constables, when
appointed by the Governor 10.00
Section 6. Effective Date Provisions:
(a) Section 1 of this Act shall take effect upon its enactment into law.
(b) Section 2 of this Act shall take effect June 1, 1984, and shall apply to franchise taxes due and Payable on or after June 1, 1984.
(c) Section 503, Chapter 5, Title 8, Delaware Code, as in existence immediately prior to the effective date of this Act, shall continue in effect thereafter with respect to Annual Franchise Reports and taxes due and payable on or before March 1, 1984.
(d) Sections 3 of this Act shall take effect with respect to annual franchise tax reports due on or after March 1, 1985.
(e) Sections 4 and 5 of this Act shall become effective July 1, 1984, and shall apply to fees incurred in transactions occurring on or after July 1, 1984.
Section 9. Severabilitv:
If any provision of this Act or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Act which can be given effect without the invalid provision or application, and to that end the provisions of this Act are declared severable.
Approved July 2, 1984.