Small Business Reading Room


Friday, July 02, 2010

Delaware Corporate Legislation Tracker

The Delaware General Assembly has has finished the legislative session, but you can stay on top of any current and pending legislation related to Delaware Corporate rules and regulations with the Delaware Corporate Legislation Tracker!

Here is what has been happening in Dover this past week:

The following Legislation affecting Title 30 - State Taxes, was acted upon by the General Assembly on 06/29/2010:

HB 495
Title: AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO GROSS RECEIPTS TAXES.



Synopsis:
This Act decreases certain business and occupational tax rates, known as gross receipt taxes, by 6.7% across the board. The reduction is funded by a reduction in the State workforce by 500 positions, through attrition, implemented on a rolling basis. The $13 million in savings resulting from workforce reduction covers the 6.7% Gross Receipts tax reduction, valued at $13 million. Additional State revenue is expected as a result of businesses having an additional $13 million to put back into the economy.

Bill History:

Jun 29, 2010 - Introduced in House and assigned to Revenue & Finance Committee

Jun 29, 2010 - Assigned to Revenue & Finance Committee in House



The following Legislation affecting Title 30 - State Taxes, Title 12 - Decedents' Estates and Fiduciary Relations, and Title 3 - Agriculture was acted upon by the General Assembly on 06/30/2010:


HB 497
Title: AN ACT TO AMEND THE LAWS OF DELAWARE RELATING TO THE ESTATE TAX.


Synopsis:
This bill amends House Bill No. 291, as amended by House Amendment Nos. 1 and 4 (Laws of Delaware, Volume 77, Chapter 85) relating to Estate Tax. It removes the Sunset date of July 1, 2013 and replaces that with a termination date of July 30, 2010, and makes the Act revert to certain statutes in Titles 3, 12, and 30 of this Act that were in place immediately before this Act was enacted on July 1, 2009.

Bill History:

Jun 30, 2010 - Introduced and Assigned to Revenue & Finance Committee in House







0 comments


Governor Signs New Budget for Delaware!

Delaware's Budget Fast Facts:

• Over $50M less than state budget passed in FY 2009

• 530 less positions than last year’s budget (1,026 positions less than budget two years ago)

• $48.9M in state agency operating cuts

• Demand for state services like education and healthcare up

• $6M increase in the education budget attributable to enrollment growth (111 new teachers)

• $104.2M increase in the Medicaid budget due to growing number of Delawareans eligible

• Budget balanced, despite $110.2M reduction in available federal stimulus funds in FY’11


You can read all about it here in the Governor's press release.
0 comments





link to Atom Feed
links

magazines

blogs

Archives

Delaware Intercorp, Inc.
113 Barksdale Professional center
Newark, DE 19711-3258

"For all the best reasons to incorporate,the best place
is Delaware and the best incorporator is
Delaware Intercorp!"

Call Monday - Friday 09:00 (am) - 17:00 (pm) Eastern Time (GMT-05:00)

Toll Free - USA only - 888.324.1817
International: (1) 302.266.9367
FAX: 302.266.9940
Email: info@delawareintercorp.com