Bill Text: DE HB239 | 2009-2010 | 145th General Assembly | Draft

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Bill Title: An Act To Amend Title 6 Of The Delaware Code Relating To Tax On Limited Liability Company.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2009-06-25 - Stricken [HB239 Detail]

Download: Delaware-2009-HB239-Draft.html

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SPONSOR:	Rep. Kowalko & Sen. Henry

HOUSE OF REPRESENTATIVES

145th GENERAL ASSEMBLY

HOUSE BILL NO. 239

AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO TAX ON LIMITED LIABILITY COMPANY.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three-fifths of all members elected to each house thereof concurring therein):

Section 1.Amend section 18-1107(b), Title 6 of the Delaware Code by striking the language there existing and inserting in its place a new sentence that shall read as follows:

"(b) Every domestic limited liability company and every foreign limited liability company registered to do business in the State of Delaware shall pay an annual tax, for the use of the State of Delaware, in the amount of $300.".

SYNOPSIS

This Act would increase the State tax levied and imposed on both domestic and foreign limited liability companies.All variables being equal, this increase would likely result in the generation of an additional $29.0 Million (approximately) in annual revenue for the State of Delaware.