Delaware Code Title 5 Sec. 1802 – Report of net earnings and payment of tax; penalties
(a) Within 75 days after the end of its fiscal year the building and loan association, acting through its president, treasurer, or other proper officer, shall report under oath to the State Bank Commissioner, the net earnings of the building and loan association for that next previous taxable period, and at the same time the building and loan association shall pay to the State Bank Commissioner the proper amount of tax for that period as computed under this chapter. Any and all documents relating to the taxation of a building and loan association pursuant to this chapter shall be true statements, verified by oath, by the president, treasurer or other proper officer of the building and loan association.
Terms Used In Delaware Code Title 5 Sec. 1802
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
- Oath: A promise to tell the truth.
- Oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and "sworn" includes affirmed; and the forms shall be varied accordingly. See Delaware Code Title 1 Sec. 302
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) In the case of a building and loan association which has been engaged in a building and loan business of any kind in this State for less than the whole year, the amount of tax due, at the rates provided in this chapter, shall be prorated for that portion of the year during which the building and loan association was engaged in a building and loan business of any kind within this State. Within 30 days of the cessation of all building and loan business of any kind within this State, the president, treasurer or other proper officer shall file a true statement, verified by oath, setting forth the net income of such building and loan association as defined in this chapter, and such other true statement, in such form as shall be specified by the Commissioner, verified by oath, setting forth the “taxable income” of such building and loan association as defined in this chapter.
(c) If any building and loan association shall fail to pay any tax due under this chapter on or before the due date, a penalty of 11/2 percent shall be assessed for each month or fraction thereof that the same remain unpaid after such date.
59 Del. Laws, c. 434, § ?2; 63 Del. Laws, c. 66, § ?1; 68 Del. Laws, c. 303, § ?35;