News
9:23 am
Thu March 21, 2013

Delaware Tax Hikes Made Permanent

Governor Jack Markell (D-De)
Governor Jack Markell (D-De)
Credit governor.delaware.gov

DOVER, Del. (AP) - The state House is poised to vote on Democratic Gov. Jack Markell's proposals to make several recession-era tax increases permanent.

The bills cleared a committee Wednesday and were scheduled for votes Thursday by the full House.

Two bills keep increases in corporate franchise and estate taxes, approved in 2009, from expiring after four years - as lawmakers had said they would.

Two other bills would similarly keep higher personal income and gross receipts taxes from expiring as promised in 2009, but with slight modifications. The current top personal income tax rate would drop slightly to 6.6 percent but would remain higher than 2009's rate of 5.95 percent.  The gross receipts tax on most businesses would be permanently increased compared to 2009 but would drop 1 percent from the current rate.