SPONSOR:

Rep. Kowalko & Sen. Henry

Reps. Baumbach, Lynn, K. Williams

HOUSE OF REPRESENTATIVES

149th GENERAL ASSEMBLY

HOUSE BILL NO. 101

AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO TAX ON LIMITED LIABILITY COMPANIES.

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 section 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 and redesignating accordingly:

§ 18-1107 Taxation of limited liability companies.

(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 $300 $325 .

SYNOPSIS

This Act increases State tax levied and imposed on both domestic and foreign limited liability companies. This increase generates additional revenue for the State of Delaware.