Wed March 26, 2014
Delaware House of Representatives Delays Vote on Tax Hikes
DOVER, Del. (AP) - The state House has delayed a vote on a package of tax increases upon which Gov. Jack Markell is relying to help pay for his spending plan for the upcoming fiscal year.
The bill increases the annual tax on limited liability companies and business partnerships from $250 to $300. It also increases the minimum annual corporation franchise tax by $100.
With the bill requiring three-fifths vote in the House and Senate, House Democrats postponed a scheduled vote Tuesday, when at least one Democratic lawmaker was absent.
Administration officials have said the tax increases should generate $51 million more in annual revenue, and that the vast majority of those taxes will be paid by businesses located outside of Delaware, which is the legal home for more than 1 million business entities.