Small Business Reading Room

Delaware Corporate Legislation Tracker

HB 18
Title: AN ACT TO AMEND TITLES 3, 12, AND 30 OF THE DELAWARE CODE RELATING TO THE ESTATE TAX.




Synopsis:
This bill repeals the Delaware Estate Tax as of July 1, 2011.


Bill History:

Jan 19, 2011 - Introduced and Assigned to Revenue & Finance Committee in House

HB 10
Title: AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO MANUFACTURERS AND WHOLESALERS.



Synopsis:
This Act exempts from the Wholesale Merchants’ Gross Receipts Tax and from the Manufacturers’ Gross Receipts Tax the gross receipts realized in certain intermediate transactions engaged in by petroleum product refiners with certain specialized trade parties during the petroleum refining process. The Act exempts from the Wholesale Merchants’ Gross Receipts Tax the gross receipts from (i) sales of crude oil by a crude oil wholesaler to a petroleum product refiner, (ii) sales of intermediate petroleum products that have been partially refined by a petroleum product refiner to an intermediate petroleum products wholesaler and from an intermediate petroleum products wholesaler back to a petroleum product refiner, (iii) sales of finished petroleum products by a petroleum product refiner to a finished petroleum products wholesaler, and (iv) sales of finished petroleum products by a finished petroleum products wholesaler to a wholesaler, if the finished petroleum products wholesaler and the wholesaler stand in a control relationship, i.e., one owns, directly or indirectly, 100% of the other or a third party owns, directly or indirectly, 100% of both the finished petroleum products wholesaler and the wholesaler. Proceeds from sales of a petroleum product refiner to an intermediate petroleum products wholesaler are similarly exempted from the Manufacturers’ Gross Receipts Tax. It is anticipated that these changes will not cause a decrease in the Wholesale Merchants’ Gross Receipts Tax or the Manufacturers’ Gross Receipts Tax.



Bill History:

Jan 20, 2011 - Passed by House of Representatives.
Votes: Passed 41 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT

Jan 20, 2011 - Amendment HA 1 - Passed in House by Voice Vote

Jan 20, 2011 - Amendment HA 1 - Introduced and Placed With Bill

Jan 19, 2011 - Reported Out of Committee (REVENUE & FINANCE) in House with 11 On Its Merits

Jan 18, 2011 - Introduced and Assigned to Revenue & Finance Committee in House

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