§ 2021. Credit against corporation income tax for investment and employment in targeted areas.
§ 2021. Credit against corporation income tax for investment and employment in targeted areas. (a) In the case of any taxpayer that: (1) Places in service, within any targeted area, as defined by § 2020(3)a. through c. of this title and § 2020(3)d. of this title [repealed], a qualified facility in which the taxpayer is […]
§ 1908. Historic rehabilitation.
§ 1908. Historic rehabilitation. Any entity taxable under this section is eligible for tax credits in accordance with the Historic Preservation Tax Credit Act (Chapter 18 of this title), which credits shall be against taxes imposed under this chapter; provided, however, that all claimed credits are accompanied by a Certificate of Completion issued by the […]
§ 2022. Reduction in license fees for investment and employment in targeted areas.
§ 2022. Reduction in license fees for investment and employment in targeted areas. (a) Any taxpayer that: (1) Places in service, within any targeted area as defined by § 2020(3)a. through c. of this title and § 2020(3)d. of this title [repealed], a qualified facility in which the taxpayer is engaged in a qualified activity […]
§ 1909. Withholding of income tax on sale or exchange of real estate by nonresident corporations.
§ 1909. Withholding of income tax on sale or exchange of real estate by nonresident corporations. (a) Definitions. — (1) “Director” means the Director of the Division of Revenue or the Secretary of Finance of the State. (2) “Nonresident corporation” means, for purposes of this section, a corporation that: a. Is not organized under the […]
§ 2024. Credit against personal income tax.
§ 2024. Credit against personal income tax. Notwithstanding any reference in this chapter to Chapter 19 of this title, any taxpayer not subject to taxation under Chapter 19 of this title may claim the credits allowable under § 2011, § 2021, § 2040 or § 2070 of this title against the tax imposed by Chapter […]
§ 1912. Penalties — Late filing; failure to file returns; false and fraudulent return; failure to maintain records.
§ 1912. Penalties — Late filing; failure to file returns; false and fraudulent return; failure to maintain records. (a) Any person who wilfully fails, neglects or refuses to make a return or to pay the tax as prescribed in this chapter or who shall refuse to permit the Secretary of Finance to examine the books, […]
§ 2003. Declaration of policy.
§ 2003. Declaration of policy. It is declared to be public policy of this State to encourage the investment by persons in offering neighborhood assistance both directly and by contributing to neighborhood organizations, to benefit individuals living in impoverished areas or low and moderate income families. This public policy further encourages the creation of significant […]
§ 2004. Qualification for tax credit.
§ 2004. Qualification for tax credit. For each taxable period beginning on or after July 1, 2007, a person that contributes to a neighborhood organization or that provides neighborhood assistance in an impoverished area or for low and moderate income families shall receive a tax credit as provided in § 2005 of this title if […]
§ 2005. State income tax credit; amount.
§ 2005. State income tax credit; amount. (a) For purposes of computing taxable income under Chapter 11 or Chapter 19 of this title, relating to the personal income tax and the corporation income tax, the Secretary of Finance shall allow a credit equal to 50% of the amount invested by a person in a program […]
§ 2006. Limitations on credits.
§ 2006. Limitations on credits. (a) The aggregate amount of such tax credits approved for all persons may not exceed $1,000,000 in any 1 fiscal year. (b) The Director of the Delaware State Housing Authority shall ensure that each application has the date and time of submission recorded. Credits must be awarded in chronological order […]