CHAPTER 163

FORMERLY

HOUSE BILL NO. 456

AN ACT TO AMEND CHAPTER 43, TITLE 30, DELAWARE CODE, RELATING TO THE USE TAX ON LEASES OF TANGIBLE PERSONAL PROPERTY, TO IMPOSE A LICENSE TAX ON THE GROSS RECEIPTS OF LESSORS.

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

Section 1. Amend Section 4305, Chapter 43, Title 30, Delaware Code, by striking the entire section and inserting in lieu thereof the following new section:

"Section 4305. Lessors License; License Fees and Taxes Imposed on Lessor. - (a) Every person engaged in or desiring to engage in business in this state as a lessor of tangible personal property shall obtain a license by making application to the Division of Revenue and paying a fee of $50.00, plus $10.00 for each additional place of business or business location within this State. Such license shall be valid until the last day of December following the issuance thereof, at which time it may be renewed annually upon application and payment of the fees and taxes specified in this Chapter. (b) In addition to the license fee required by subsection (a) of this Section, every such lessor shall pay an annual license tax in quarterly installments at the rate of 3/10 of 107o of the lease rental payments received. Returns shall be filed quarterly by each lessor on the dates specified in Section 4307 (b) of this Chapter. (c) Exemption - Any person required to be licensed as a retailer under Section 2905 (a) of this Title, shall not be required. to pay the license fees or taxes imposed by this Section."

renewed or issued for the six-month period from July 1, 1975, to December 31, 1975, upon application and payment of one-half of the basic license fee specified in Section 4305 (a).

Section 3. Effective Date. This Act shall take effect on July 1, 1975, and shall apply to rental payments received on and after July 1, 1975.

Approved July 1, 1975