Local News
9:17 am
Tue March 25, 2014

Delaware Legislature Mulls Governor's Tax Plans

Credit Don Rush

DOVER, Del. (AP) - The state House is set to 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.

A bill to be voted on Tuesday 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. 

The legislation was sent to the House for a floor vote after being released by the House Administration Committee last week.

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.