Small Business Reading Room


Friday, January 21, 2011

Delaware Corporate Legislation Tracker

The Delaware Corporate Legislation Tracker is a free service, designed to keep you informed on current and pending legislation related to Delaware Corporate rules, regulations, and Delaware business matters. Stay on top of changes to the DGCL & the Delaware Code with the Delaware Corporate Legislation Tracker!


The following Legislation affecting Title 3 - Agriculture, Title 12 - Decedents' Estates and Fiduciary Relations, and Title 30 - State Taxes was acted upon by the General Assembly on 1/19/2011:

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



The following Legislation affecting Title 30 - State Taxes was acted upon by the General Assembly on 1/20/2011:

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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Monday, January 17, 2011

IMPORTANT! State of Delaware Holiday Closure

Today, Monday, January 17, 2011, is a legal holiday observing the birthday of the Rev. Dr. Martin Luther King Jr. The Delaware Division of Corporations is closed, but Delaware Intercorp, Inc. is open and our team is here to assist you! No filings can be made and certificate retrieval services are limited, but feel free to give us a call or send us an email with any questions. You can even place your order today, and we’ll make your filing when the State reopens tomorrow.
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What is your sign?

Over the past week, there have been continuous headlines about the new zodiac sign Ophiuchus. This sign alone has caused an identity crisis for many daily horoscope readers. Virgos are now Leos , Gemini are now Taurus, etc. The people that have tattoos of their zodiac sign on them are now looking forward to covering up the old one with a whole new sign. When someone asks “What is your sign?,” the next question for most will be “My old one or my new one?” Relationships will have to be reevaluated to see if your signs are truly as compatible as they previously were.

Now that your mind is swirling, here is the truth. This fuss seems to be all for naught because these new zodiac schedules are mainly for astronomer's use. The zodiac signs that we use for our personality are mostly based on Western culture’s beliefs. This means you will still be the same person and still have the same horoscope that you did before. Hopefully, the panic is over. If you feel that the sign that you have been changed to fits you better, go ahead and change up your entire life and beliefs. I on the other hand enjoy my horoscope for my sign so I will just stay a Virgo.
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Delaware Intercorp, Inc.
113 Barksdale Professional center
Newark, DE 19711-3258

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