State senators signed off on the bill raising annual fees on LLCs by $50 and the minimum corporate franchise tax by $100 Thursday along party lines just before the General Assembly recesses for their Easter break.
Some Republicans admitted that they don’t think this will deter businesses from incorporating in Delaware, but Minority Leader Gary Simpson (R-Milford) says it’s shortsighted.
“I think we’re absolutely forgetting the long term effects this may have on our state attracting business to Delaware,” said Simpson.
Republicans also said they wanted to wait for newer revenue reports in the coming months before digging into the pockets of LLCs and businesses incorporating in Delaware.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
States need to stop being a one size fits all with fees and taxes.Small business is paying the same as a large corporation but they dont see that.
Even with this it is still a go-zillion times better than OweMalleyLand!
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