§ 2094. Tax credit application process.
§ 2094. Tax credit application process. (a) In order to obtain a credit, certified sponsor firms and certified new business firms shall submit a joint tax credit application to the Division for the business finder’s fee tax credit on or after the anniversary of the new business certification date, which certifies the number of full-time […]
§ 2095. Reports.
§ 2095. Reports. The Division shall report annually to the General Assembly, on or before March 1, the names of all certified sponsor and new business firms, the total amount of tax credits awarded pursuant to this Program, and the number of jobs created. 77 Del. Laws, c. 300, § 1; 81 Del. Laws, c. […]
§ 2070. Amount of credit and applicable procedures.
§ 2070. Amount of credit and applicable procedures. (a) Credit calculation. — (1) General rule. — A taxpayer may elect a Delaware research and development tax credit for the taxable year equal to: (1) 10% of the excess of the taxpayer’s total Delaware qualified research and development expenses for the taxable year over the taxpayer’s […]
§ 2096. Reconsideration.
§ 2096. Reconsideration. Where any applicant for a new business finder’s fee tax credit pursuant to this subchapter objects to any determination by the Director, such applicant shall be entitled to a reconsideration of such decision by the Director or the Director’s designee. Such request shall be filed with the Director within 60 days from […]
§ 2071. Application of Internal Revenue Code.
§ 2071. Application of Internal Revenue Code. Any term used in this subchapter shall have the same meaning as when used in a comparable context in the Internal Revenue laws of the United States, unless a different meaning is clearly required or unless any provision of this subchapter ascribes a different meaning to such term. […]
§ 2097. Limitations on credits.
§ 2097. Limitations on credits. (a) The aggregate amount of such tax credits approved for all sponsor and new business firms shall not exceed $3,000,000 in any state fiscal year. (b) The Director shall ensure that each application has the date and time of submission recorded. Credits will be awarded in chronological order based upon […]
§ 2072. Determination of qualified research and development expenses.
§ 2072. Determination of qualified research and development expenses. In prescribing standards for determining which qualified research and development expenses are considered Delaware qualified research and development expenses for purposes of computing the credit provided by this chapter, the Director may consider the location where the services are performed and other factors that the Director […]
§ 20A-100. Declaration of purpose.
§ 20A-100. Declaration of purpose. The purpose of this chapter shall be to provide Delaware’s employers with an incentive to hire veterans who have served in overseas conflicts since 2001. Upon their return home, these veterans face a difficult job market and have experienced relatively high rates of unemployment. The tax credit created by this […]
§ 2073. Time limitations.
§ 2073. Time limitations. A taxpayer who is eligible for the Research and Development Tax Credit under this chapter for the taxable year in which the Delaware qualified research and development expenses are taken into account for purposes of Delaware income taxation shall continue to be eligible for the credit permitted under this chapter, even […]
§ 20A-101. Definitions.
§ 20A-101. Definitions. For purposes of this chapter: (1) “Gross wages” means that part of the sum reported on Form W-2, or equivalent form of the United States Department of Treasury, Internal Revenue Service as “Medicare wages and tips” that is attributable to Delaware sources. (2) “Qualified employer” means an employer located in Delaware which […]