CHAPTER 15

FORMERLY

HOUSE BILL NO. 131

AN ACT TO AMEND CHAPTER 19, TITLE 30, DELAWARE CODE, RELATING TO THE CORPORATION INCOM TAX.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. Amend Section 1905, Title 30, Delaware Code, by striking it in its entirety and substituting in lieu thereof a new Section 1905 to read as follows:

§1905. Payment of Tax.

The tax imposed by this Chapter shall be payable as follows:

(a) Calendar Year Corporations. Fifty percent of the estimated tax liability for the current taxable year shall be paid with the tentative return filed on April 1 of the current taxable year, and the balance of the estimated tax shall be paid in installments as follows: 20% on the 15th day of June of the taxable year; 20% on the 15th day of September of the taxable year; and 10% on the 15th day of December of the taxable year.

(b) Fiscal Year Corporations. Fifty percent of the estimated tax liability for the current taxable year shall be paid with the tentative return filed on the first day of the fourth month of the current taxable year, and the balance of the estimated tax shall be paid in installments as follows: 20% on the 15th day of the sixth month of the taxable year; 20% on the 15th day of the ninth month of the taxable year; and 10% on the 15th day of the twelfth month of the taxable year."

Section 2. Effective Date. This amendment shall apply to taxable years beginning on or after January 1, 1975.

Approved March 27, 1975.