corporate income tax

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NEW CASTLE, Del. (AP) - The panel that issues Delaware's official revenue forecast has given legislative budget writers a little more breathing room.

The Delaware Economic and Financial Advisory Council on Monday boosted the net revenue estimate for the current and upcoming fiscal years. The panel says revenues are up by about $33 million over last month's estimate, thanks mostly to personal and corporate income tax collections.

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Public opinion polls show Lt. Gov. Anthony Brown with a 20 plus lead over rival Attorney General Doug Gansler in the race for the Democratic gubernatorial primary race with Delegate Heather Mizeur a distance third.  The Attorney General stopped by the studios of Delmarva Public Radio to discuss the race and the issues

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ANNAPOLIS, Md. (AP) - Attorney General Doug Gansler is highlighting his plan to cut the corporate income tax rate to demonstrate he is the most willing of Maryland's Democratic primary candidates for governor to do what's necessary to spur the state's economy.

Gansler wants to gradually cut the state's corporate income tax from 8.25 percent to 6 percent. He says that will make Maryland more competitive with Virginia for companies that want to be near the nation's capital.

Gansler is running in the Democratic primary against Lt. Gov. Anthony Brown and Del. Heather Mizeur.

Don Rush

NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections is updating revenue estimates lawmakers will consider as they work on a budget for the upcoming fiscal year.

The Delaware Economic and Financial Advisory Council meets Monday, one month after lowering its overall revenue estimate for the current fiscal year by almost $108 million compared to its December forecast. Leading that decline was a $70 million drop in estimated corporate income taxes.

Don Rush

NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections has significantly lowered expectations for corporate income tax revenue this year, putting more pressure on state lawmakers charged with developing a budget for the upcoming fiscal year.

The Delaware Economic and Financial Advisory Council on Monday lowered its overall revenue estimate for the current fiscal year by almost $108 million compared to its December forecast, led by a $70 million drop in estimated corporate income taxes.