Small Business Reading Room

Wednesday, July 20, 2005

Delaware Businesses Receive Tax Break from House Bill 303

There is now yet another good reason to do business in Delaware.

Yesterday, Governor Ruth Anne Minner signed House Bill 303 which reduced the amount of gross receipts tax for businesses operating within the state.

Most businesses that pay the tax will see a reduction of 20 percent. Auto manufacturers will see a slightly better brake at 25 percent.

In addition, about 1,200 small businesses will no longer be subject to the gross receipts because the amount a business must bring in to owe the tax will increase from $50,000 to $80,000 a month.

This is good news for both small businesses and the corporate giants who call Delaware home.

posted by Unknown at 12:12 PM - permalink 0 comments

Small Business Reading Room

Delaware Businesses Receive Tax Break from House Bill 303

0 Comments: