Delaware Code Title 30 Sec. 2092 – Business finder’s fee credit
Current as of: 2023 | Check for updates
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(a) Subject to the limitations of this subchapter, a certified sponsor firm and a certified new business firm shall each be eligible for a tax credit equal to $500 times the total number of full-time Delaware employees of the certified new business firm each tax year for 3 tax years from the new business certification date.
Terms Used In Delaware Code Title 30 Sec. 2092
- Certified new business firm: means a new business firm that has been certified by the Director pursuant to the provisions of § 2093 of this title. See Delaware Code Title 30 Sec. 2091
- Certified sponsor firm: means a sponsor firm that has been approved by the Director pursuant to the provisions of § 2093 of this title. See Delaware Code Title 30 Sec. 2091
- Credit: means a reduction of the final balance for tax reported due by a certified sponsor firm or a certified new business firm on a tax or information return pursuant to the Business Finder's Fee Program. See Delaware Code Title 30 Sec. 2091
- Division: means the Division of Small Business within the Department of State. See Delaware Code Title 30 Sec. 2091
- New business certification date: means the date the Division officially certifies the joint application of the sponsor firm and the new business firm. See Delaware Code Title 30 Sec. 2091
- New business firm: means a business organization that certifies in a joint application pursuant to § 2093 of this title that it:
- Tax: shall be deemed also to refer to license fees imposed under Part III of this title. See Delaware Code Title 30 Sec. 502
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) The Division shall develop rules and regulations consistent with this subchapter to implement the provisions herein.