Corporate Tax Hike Proposed in Delaware

May 17, 2017

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There could be a hike in Delaware’s corporate franchise tax hitting some of the biggest companies in the state.

It’s bi-partisan legislation that would come up with a new tax bracket and would require some of the biggest firms to pay a new top rate with a maximum of a quarter of a million dollars each year.     

The current maximum rate is $180-thousand.

WBOC reports that the measure comes as Governor John Carney and Delaware lawmakers are grappling with a $382 million budget shortfall in the upcoming fiscal year.

Joshua Twilley, president of Incorporated Services in Camden, told the television station that he does not believe it will scare off many businesses.