Terms Used In Delaware Code > Title 30 > Chapter 20 - Business Tax Credits and Deductions

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit. See Delaware Code Title 6 Sec. 4-104
• Affiliate: means any business organization or person that directly, or indirectly through 1 or more intermediaries, controls, or is controlled by, or is under common control with, the person or business entity specified, or person who is an officer, director, partner, or trustee of the person specified. See Delaware Code Title 30 Sec. 2091
• Affiliated group: has the meaning provided by § 1504 of the Internal Revenue Code (26 U. See Delaware Code Title 30 Sec. 2081
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• aviation services: means a business conducted by an employer in Delaware:

  1. See Delaware Code Title 30 Sec. 2010

• Bank: means a banking organization or other financial institution engaged in the business of banking, chartered under federal or any state law, and regulated by any federal or any state banking regulatory authority. See Delaware Code Title 30 Sec. 2091
• Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Delaware Code Title 6 Sec. 4-104
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Base year: shall mean the calendar year immediately preceding a qualified employer's first certified year. See Delaware Code Title 30 Sec. 2081
• 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
• Certified year: shall mean a calendar year for which an employer is certified to be eligible for New Economy Jobs Program credits under this subchapter. See Delaware Code Title 30 Sec. 2081
• Clearing house: means an association of banks or other payors regularly clearing items. See Delaware Code Title 6 Sec. 4-104
• Commercial activity: is a n activity constituting a business licensable under § 2301 of this title, other than any of the following business: Amusement conductor, amusement park operator, auctioneer, automobile race operator, bowling alley operator, circus exhibitor, entertainment agent, finance or small loan agency, floor show operator, health spa or health club, junk dealer, motion picture theater, outdoor music festival promoter, pawnbroker, pool table operator, public bath keeper, salvage yard operator and self-service laundry or dry cleaner. See Delaware Code Title 30 Sec. 2020
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Community services: means any type of counseling and advice, emergency assistance or medical care furnished to individuals or groups in an impoverished area or for low and moderate income families. See Delaware Code Title 30 Sec. 2002
• community-based development organization: means any locally-based, resident-controlled, nonprofit organization that plans and implements Community Economic Development projects in impoverished areas or for low- and moderate-income people and that holds a ruling from the Internal Revenue Service of the United States Department of the Treasury that the organization is exempt from income taxation under the provisions of the Internal Revenue Code. See Delaware Code Title 30 Sec. 2002
• Compensation: means that part of the sum reported on Form W-2, or equivalent form of the United States Department of Treasury, Internal Revenue Service as "Medicare wages and tips" that is attributable to Delaware sources. See Delaware Code Title 30 Sec. 2081
• Contract: A legal written agreement that becomes binding when signed.
• Corporate restructuring: means a transaction that meets both of the following:

  a. See Delaware Code Title 30 Sec. 2081

• 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.
• Credit: means a reduction of the final balance for tax or fees reported due by a qualified employer on a tax or information return pursuant to the New Economy Jobs Program. See Delaware Code Title 30 Sec. 2081
• 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
• Crime prevention: means any activity that aids in the reduction of crime in an impoverished area or to assist low and moderate income families. See Delaware Code Title 30 Sec. 2002
• Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Delaware Code Title 6 Sec. 4-104
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Delaware qualified research and development: shall mean qualified research as defined in § 41(d) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U. See Delaware Code Title 30 Sec. 2010
• Delaware qualified research and development expenses: shall mean qualified research expenses as defined in § 41(b) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U. See Delaware Code Title 30 Sec. 2010
• Department: means the Department of Finance. See Delaware Code Title 30 Sec. 101
• Director: means the Director of the Division of Revenue or the Secretary of Finance of the State. See Delaware Code Title 30 Sec. 502
• Director: means the Director of the Division of Small Business. See Delaware Code Title 30 Sec. 2081
• Director: means the Director of the Division of Small Business. 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
• Division of Revenue: means the Division of Revenue of the Department of Finance of the State. See Delaware Code Title 30 Sec. 502
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (Section 8-102) or instructions for uncertificated securities (Section 8-102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft. See Delaware Code Title 6 Sec. 4-104
• dollars: means lawful money of the United States. See Delaware Code Title 1 Sec. 302
• Economic development: means any activity that aids in business development and ownership in impoverished areas. See Delaware Code Title 30 Sec. 2002
• Education: means any type of scholastic instruction to an individual who resides in an impoverished area or for low and moderate income families that enables that individual to meet educational requirements for known job vacancies. See Delaware Code Title 30 Sec. 2002
• Eligible job: means any single position held by a common-law employee in this State for which the compensation equals or exceeds the salary threshold. See Delaware Code Title 30 Sec. 2081
• Expanded facility: is a ny qualified property (other than a replacement facility) resulting from the acquisition, construction, reconstruction, installation or erection of improvements or additions to existing property (not including any improvement or addition resulting from a repair, refurbishing, retooling (such as retooling by an automobile manufacturer), recycling or other similar process or procedure that merely preserves or restores the value of an existing facility, and not including any improvement or addition that, in the determination of the Secretary, does not constitute an integral part of a qualified activity), if such improvements or additions are placed in service by the taxpayer as owner, lessee or sublessee after December 31, 1984, but only to the extent of the taxpayer's qualified investment in such improvements or additions. See Delaware Code Title 30 Sec. 2010
• 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.
• fixed base percentage: shall mean the percentage which the aggregate Delaware qualified research and development expenses for the 4 taxable years immediately preceding the taxable year in which the expenses are taken into account for purposes of Delaware income taxation bear to the aggregate gross receipts for such years. See Delaware Code Title 30 Sec. 2010
• Housing: means any activity that aids in substantial renovation or new construction of rental or owner-occupied residences for low and moderate income families in impoverished areas or for low and moderate income families. See Delaware Code Title 30 Sec. 2002
• Impoverished area: means any clearly-defined, economically-distressed urban or rural area in this State that is certified as such by the Delaware State Housing Authority. See Delaware Code Title 30 Sec. 2002
• Incorporated municipality: means and includes the area within the January 1, 2007, boundaries of cities, towns and villages created under any general or special law of this State for general governmental purposes which possess legislative, administrative and police powers for the general exercise of municipal functions and which carry on such functions through a set of elected and other officials. See Delaware Code Title 30 Sec. 2081
• Internal Revenue Service: means the Internal Revenue Service of the Department of Treasury of the United States. See Delaware Code Title 30 Sec. 502
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Delaware Code Title 6 Sec. 4-104
• Job training: means any type of instruction to an individual who resides in an impoverished area or for low and moderate income families that enables an individual to acquire vocational skills so that the individual can become employable or be able to seek a higher grade of employment. See Delaware Code Title 30 Sec. 2002
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Knowledge: means a person's actual knowledge of a fact, rather than the person's constructive knowledge of the fact. See Delaware Code Title 6 Sec. 17-101
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Neighborhood assistance: means the furnishing of financial assistance, labor, material and technical advice to aid in the physical, economic and community improvement of any part or all of an impoverished area or to assist low and moderate income families through the provision of community services, crime prevention, economic development, education, housing, and job training. See Delaware Code Title 30 Sec. 2002
• Neighborhood organization: means any organization performing neighborhood assistance in an impoverished area or for low and moderate income families and holding a ruling from the Internal Revenue Service of the United States Department of the Treasury that the organization is exempt from income taxation under the provisions of the Internal Revenue Code, or any community development corporation or community-based development organization as defined in this section. See Delaware Code Title 30 Sec. 2002
• 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:

  a. See Delaware Code Title 30 Sec. 2091

• New Economy Jobs Program: means the Program authorized pursuant to this subchapter to encourage the creation of high wage, knowledge-based jobs in this State. See Delaware Code Title 30 Sec. 2081
• New facility: is a ny qualified property (other than an expanded facility or a replacement facility) placed in service by the taxpayer as owner, lessee or sublessee after December 31, 1984; provided, however, that such phrase shall not include any property the original use of which commenced prior to the time the taxpayer placed such property in service if:

  a. See Delaware Code Title 30 Sec. 2010

• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
• Person: means and includes an individual, a trust, estate, partnership, association, company or corporation. See Delaware Code Title 30 Sec. 502
• Personal property: All property that is not real property.
• persons: shall include any individual; any form of company or corporation which is lawful within the State (including limited liability companies and S corporations), any form of partnership which is lawful within the State (including limited liability partnerships); and any trust or estate. See Delaware Code Title 30 Sec. 2002
• Principal executive office: shall mean the address identified as the corporation's principal executive office in a 10-Q or 10-K filing with the Securities and Exchange Commission. See Delaware Code Title 30 Sec. 2081
• Qualified activity: is:

  a. See Delaware Code Title 30 Sec. 2010

• Qualified employee: is a person employed within this State on a regular and full-time basis. See Delaware Code Title 30 Sec. 2010
• Qualified employee: means a common-law employee employed in an eligible job in this State. See Delaware Code Title 30 Sec. 2081
• Qualified employer: means an employer certified to be eligible for New Economy Jobs Program credits under this subchapter. See Delaware Code Title 30 Sec. 2081
• Qualified facility: is a ny qualified property located within this State that constitutes a new facility or an expanded facility and that is used by the taxpayer in or in connection with a qualified activity. See Delaware Code Title 30 Sec. 2010
• Qualified facility gross receipts: means the total Delaware gross receipts (as defined and computed under those provisions of Chapter 23, 27 or 29 of this title that apply to the qualified activity in question) attributable to and derived by the taxpayer from the operation of the qualified facility in question. See Delaware Code Title 30 Sec. 2010
• Qualified property: is:

  a. See Delaware Code Title 30 Sec. 2010

• qualified research expenses: shall mean "Delaware qualified research and development expenses" and references to "qualified research" shall mean "Delaware qualified research and development. See Delaware Code Title 30 Sec. 2010
• Qualified retained employer: means an employer certified to be eligible for New Economy Jobs Program credits under this subchapter and within the 3-year period prior to certification:

  a. See Delaware Code Title 30 Sec. 2081

• Qualified withholding payments: means (subject to the limitations of § 2084 of this title) the total amount of tax withheld, accounted for, and paid to the Secretary pursuant to subchapter VII of Chapter 11 of this title by a qualified employer or qualified retained employer on account of the compensation paid so many of the qualified employees, vital employees or retained employees as are counted in determining New Economy Jobs Program credits. See Delaware Code Title 30 Sec. 2081
• Real estate agency: means a person licensed as a real estate broker or salesperson under Chapter 29 of Title 24 and acting within the course and scope of that license, or a partnership, association or corporation engaged in the business of buying or selling real estate. See Delaware Code Title 30 Sec. 2091
• Real estate developer: means a person in the business of:

  a. See Delaware Code Title 30 Sec. 2091

• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: is synonymous with the phrase "lands, tenements and hereditaments. See Delaware Code Title 1 Sec. 302
• Related person: means :

  a. See Delaware Code Title 30 Sec. 2010

• Replacement facility: is a ny property (other than an expanded facility) that replaces or supersedes any other property located within this State that:

  a. See Delaware Code Title 30 Sec. 2010

• Retained eligible job: means any single position held by a retained employee in this State. See Delaware Code Title 30 Sec. 2081
• Retained employee: means a common-law employee employed by a qualified retained employer in a retained eligible job in this State. See Delaware Code Title 30 Sec. 2081
• Salary threshold: means $112,200 of Delaware sourced compensation paid to a common law employee. See Delaware Code Title 30 Sec. 2081
• Secretary: means the Secretary of Finance or the Secretary's delegate. See Delaware Code Title 30 Sec. 2010
• Secretary: means the individual appointed as administrator and head of the Delaware Department of Finance pursuant to § 8302 of Title 29. See Delaware Code Title 30 Sec. 2081
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Sponsor firm: means a business organization that certifies in a joint application pursuant to § 2093 of this title that it:

  a. See Delaware Code Title 30 Sec. 2091

• State: means a state of the United States, the District of Columbia, Puerto Rico, The United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 30 Sec. 502
• Statute: A law passed by a legislature.
• Targeted area: means any of the following:

  a. See Delaware Code Title 30 Sec. 2020

• Targeted growth area: means a geographic area designated as "investment level 1" or "investment level 2" on the strategy maps of the most recent executive order approving the strategies for state policies and spending, originally approved in December, 1999. See Delaware Code Title 30 Sec. 2081
• Targeted growth county: means a county in this State having, on June 30, 2007, fewer than 250,000 inhabitants as reported in the most recent County Population Estimate of the United States Department of Commerce, Bureau of Census. See Delaware Code Title 30 Sec. 2081
• 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
• Taxpayer: means an individual pass-through entity, as defined in § 1601 of this title, or corporation. See Delaware Code Title 30 Sec. 2010
• Trustee: A person or institution holding and administering property in trust.
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Vital employee: means a common-law employee employed in a vital job in this State. See Delaware Code Title 30 Sec. 2081
• Vital job: means any single position held by a vital employee in this State. See Delaware Code Title 30 Sec. 2081
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302