SPONSOR: |
Rep.
Oberle Sen. DeLuca |
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Cathcart Gilligan Keeley Blakey Carey Lee Miro Spence Wagner |
Cook Sorenson Still Blevins |
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HOUSE OF REPRESENTATIVES 144th GENERAL ASSEMBLY |
HOUSE BILL NO. 519 |
AN ACT TO AMEND TITLE 8 OF THE |
BE IT ENACTED
BY THE GENERAL ASSEMBLY OF THE STATE OF
Section 1. Amend § 391(a)(8), Title 8, Delaware Code, by striking the figure “$60” and substituting in lieu thereof “$100”.
Section 2. Amend § 503 (a)(1), Title 8, Delaware Code, by striking such paragraph in its entirety and substituting in lieu thereof the following:
“(1) Where the authorized capital stock does not exceed 5,000 shares, $75; where the authorized capital stock exceeds 5,000 shares, but is not more than 10,000 shares, $150; and the further sum of $75 on each 10,000 shares or part thereof.”
Section 3. Amend § 503 (a)(2), Title 8, Delaware Code, by striking such paragraph in its entirety and substituting in lieu thereof the following:
“(2) Seventy five dollars where the assumed no-par capital of the corporation, found in the manner provided in this paragraph, does not exceed $500,000; $150 where the assumed no-par capital exceeds $500,000 but is not more than $1,000,000; and the further sum of $75 for each $1,000,000 or part thereof of such additional assumed no-par capital.”
Section 4. Amend § 503(c), Title 8, Delaware Code, by striking the figure “$35” and substituting in lieu thereof “$75”.
Section 5. This Act shall be effective as of January 1, 2008.
SYNOPSIS
This Act increases the annual report fee for foreign corporations from $60 to $100 and increases the rates for computation of the annual franchise tax. |