HOUSE BILL NO. 545
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND CHAPTER 19, TITLE 30, DELAWARE CODE RELATING TO THE CORPORATION INCOME TAX.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Amend Subsection (a) of §1902, Chapter 19, Title 30, Delaware Code, by striking subsection (a) in its entirety and substituting in lieu thereof a new subsection (a) to read as follows:
Every domestic or foreign corporation that is not exempt under subsection (b) of this section shall annually pay a tax of seven and two-tenths percent on its taxable income, computed in accordance with §1903 of this Title, which shall be deemed to be its net income derived from business activities carried on and property located within the State during the income year. Any receiver, referee, trustee, assignee, or other fiduciary, or any officer or agent appointed by any court, who conducts the business of any corporation, shall be subject to the tax imposed by this Chapter in the same manner and to the same extent as if the business were conducted by the corporation.
Section 2. The effective date of this Act shall be the day after signature by the Governor.
Approved July 6, 1973.