CHAPTER 7 - FRANCHISE TAXES

AN ACT TO AMEND CHAPTER 6 OF THE REVISED CODE OF DELAWARE 1935 RELATING TO REFUND OF FRANCHISE TAXES.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. That Section 69 of said Chapter' 6 of the Revised Code of Delaware of 1935, being Code Section 103, be and the same is hereby amended by striking out Paragraph (c) of said Section 69 and substituting in lieu thereof the following:

Any corporation may within the period of six months after the assessment or three months after the payment of taxes imposed by this Article apply to the State Tax Board for a refund or reduction of taxes claimed to be erroneously or illegally assessed and thereafter collected, or of interest or penalties claimed to have been assessed and thereafter collected without authority, or of any payment claimed to have been excessive. If the said Tax Board shall determine that the tax, interest and/or penalties assessed are excessive or incorrect, in whole or in part, it shall resettle the same and adjust the assessment of tax, interest or penalties accordingly, and shall notify the corporation and the Secretary of State of such determination and direct the Tax Department to refund to the corporation any amount paid in excess of the proper amount of tax, interest and/or penalties so determined to be due. The said Tax Board shall be further empowered to revise the penalty provided in Section 63 of this Chapter. An appeal may be taken to the Superior Court of the State of Delaware from any decision, determination or final action of the State Tax Board under this section by the State of Delaware or by any corporation affected thereby within sixty days after notification thereof and such Court may by its judgment affirm, modify or reverse the same in whole or in part.

Section 2. All acts or parts of acts inconsistent with the provisions of this act are hereby repealed to the extent of such inconsistency only.

Approved April 16, 1937.