Delaware Code Title 30 Sec. 2022 – Reduction in license fees for investment and employment in targeted …
(a) Any taxpayer that:
(1) Places in service, within any targeted area as defined by § 2020(3)a. through c. of this title and § 2020(3)d. of this title [repealed], a qualified facility in which the taxpayer is engaged in a qualified activity described in § 2010(3) of this title, and
(2) Thereby satisfies the requirements contained in § 2012(a) of this title for the allowance of a reduction in any license fee imposed upon the taxpayer’s gross receipts by any provision of Chapter 27 of this title or by §§ 2301(d), 2902, 2903, 2904 of this title or, in the case of an activity described in §§ 2010(3)j., 2905 of this title for the taxable year of the taxpayer in which such qualified facility is placed in service by the taxpayer,
Terms Used In Delaware Code Title 30 Sec. 2022
- Targeted area: means any of the following:
- 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
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
shall be allowed, in lieu of the reduction in such license fee provided by § 2012 of this title, a reduction in such license fee for each taxable period used in computing the amount of such license fee that ends within or with such taxable year of the taxpayer and for each such taxable period that ends within or with any of the 14 following taxable years in which such facility is a qualified facility with respect to the taxpayer on the last business day thereof. The amount of each such reduction in such license fee shall be determined in the manner provided in § 2012(b) of this title, but by employing the following table in lieu of the table contained in § 2012(b) of this title:
| If the number of full | The license fee | ||
| calendar months elapsed | (computed without | ||
| since such quali?ed | regard to this | ||
| facility was placed | section) shall be | ||
| in service by the | reduced by the | ||
| taxpayer is: | following percentage: | ||
| 1 | through 60 | 100% | |
| 61 | through 72 | 90% | |
| 73 | through 84 | 80% | |
| 85 | through 96 | 70% | |
| 97 | through 108 | 60% | |
| 109 | through 120 | 50% | |
| 121 | through 132 | 40% | |
| 133 | through 144 | 30% | |
| 145 | through 156 | 20% | |
| 157 | through 168 | 10% | |
| 169 | through 180 | 5% | |
| Over 180 | 0% |