§ 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 […]
§ 1816. Total amount of credits permitted in each fiscal year; allocation of such credits.
§ 1816. Total amount of credits permitted in each fiscal year; allocation of such credits. (a) The maximum amount of credit awards under this chapter in any fiscal year shall not exceed $5,000,000. One hundred thousand dollars of the credit awards in a fiscal year must be reserved for distribution to qualified resident curators. If […]
§ 1817. Appeals.
§ 1817. Appeals. (a) Where any taxpayer or other person who has applied for state approval or certification that a property is a certified historic property or that any repairs or improvements are certified rehabilitation, in accordance with this subchapter objects to a noncertification decision by the Delaware State Historic Preservation Officer, such person shall […]
§ 1901. Definitions.
§ 1901. Definitions. As used in this chapter: (1) “Administration services” means, in each case with respect to intangible investments (as such term is defined in § 1902(b)(8) of this title): a. Clerical; b. Accounting; c. Bookkeeping; d. Data processing; e. Internal auditing; f. Tax services; g. Regulatory compliance, operations and related services; h. Risk […]
§ 1902. Imposition of tax on corporations; exemptions.
§ 1902. Imposition of tax on corporations; exemptions. (a) Every domestic or foreign corporation that is not exempt under subsection (b) of this section shall annually pay a tax of 8.7 percent on its taxable income, computed in accordance with § 1903 of this title, which shall be deemed to be its net income derived […]
§ 1903. Computation of taxable income.
§ 1903. Computation of taxable income. (a) The “entire net income” of a corporation for any income year means the amount of its federal taxable income for such year as computed for purposes of the federal income tax increased by: (1) Any interest income (including discount) on obligations issued by states of the United States […]
§ 1802. Findings and purpose.
§ 1802. Findings and purpose. (a) The General Assembly finds: (1) That the State of Delaware’s unique natural resources, wildlife habitats, historic resources and resources of outdoor recreation are a significant benefit to the State and the public; (2) That the State of Delaware’s unique natural resources and distinctive natural heritage, including habitat for plants, […]