HOUSE OF REPRESENTATIVES

149th GENERAL ASSEMBLY

HOUSE BILL NO. 102

AN ACT TO AMEND TITLE 8 OF THE DELAWARE CODE RELATING TO CORPORATION FRANCHISE TAX.

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 § 503, Title 8 of the Delaware Code by making deletions as shown by strikethrough and insertions as shown by underline as follows:

§ 503. Rates and computation of franchise tax.

(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 $240,000 nor less than $175; or computed by paragraph (a)(2) of this section be more than $180,000 $240,000 nor less than $350.

SYNOPSIS

This bill increases the maximum annual corporation franchise tax in the amount of $60,000, from $180,000 to $240,000.