Delaware Code Title 30 Sec. 6402 – Imposition of income tax on Headquarters Management Corporations
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Every Headquarters Management Corporation shall annually pay a tax in lieu of the taxes imposed under Chapter 19 of this title equal to the greater of:
(1) Eight and seven tenths percent of its Headquarters Management Corporation taxable income; or
(2) Five thousand dollars.
Terms Used In Delaware Code Title 30 Sec. 6402
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- dollars: means lawful money of the United States. See Delaware Code Title 1 Sec. 302
- Headquarters Management Corporation: means an entity treated as a corporation under the Internal Revenue Code of the United States (Title 26 of the United States Code) that:
- Tax: shall be deemed also to refer to license fees imposed under Part III of this title. See Delaware Code Title 30 Sec. 502
- Taxable: means any person, fiduciary, association of persons, syndicate, joint venture or copartnership subject to making return or to payment of tax imposed by this title. See Delaware Code Title 30 Sec. 101