CHAPTER 296

FORMERLY

HOUSE BILL NO. 636

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND CHAPTER 14, TITLE 30, DELAWARE CODE, RELATING TO THE GIFT TAX.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Section 1401 (1), Chapter 14, Title 30, Delaware Code, is amended by deleting the words "calendar quarter" each place they appear and substituting in lieu thereof the words "calendar year".

Section 2. Section 1402, Chapter 14, Title 30, Delaware Code, is amended by deleting the words "calendar quarter" each place they appear and substituting in lieu thereof the words "calendar year".

Section 3. Section 1403, Chapter 14, Title 30, Delaware Code, is amended to read as follows:

"The tax imposed by §1402 for each calendar year shall be an amount equal to the excess of (1) a tax, computed in accordance with the rate schedule set forth in 51404 on the aggregate sum of taxable gifts for such calendar year and for each of the preceding calendar periods after September 30, 1971, over (2) a tax, computed in accordance with such rate schedule, on the aggregate sum of the taxable gifts for each of the preceding calendar periods after September 30, 1971."

Section 4. Section 1405, Chapter 14, Title 30, Delaware Code, is amended to read as follows: "§1405. Returns and Payment of Tax.

(a) Returns; Due Date. - Any individual who in any calendar year makes any transfers by gift which are subject to tax under this Chapter shall file a return for such year and pay the tax with respect to the gift tax imposed by this Chapter. Such returns shall be filed on or before the 15th day of April following the close of the calendar year; except where the calendar year includes the date of death of the donor, the return shall be filed not later than the time (including extensions) for filing the return made under Section 1342 of this Title (relating to inheritance tax returns) with respect to such donor.

(b) Payment of Tax. - The tax imposed by Section 1402 shall be paid by the donor.

(c) Extension of Time. - If a federal extension of time for filing of the return or payment is granted For Federal gift tax purposes, the time for filing any return required under this Chapter shall be automatically extended for a like period provided a copy of the federal extension is furnished the Director of Revenue before or with the filing of the return required by this Chapter."

Section 5. Amend Chapter 14, Title 30, Delaware Code, by adding thereto new Section 1407, 1408, and 1409 which shall read as follows:

"§1407. Incorporation of Certain Personal Income Tax Procedural and Administrative Provisions

The provisions of Sections 1176 through 1203 inclusive, of this Title, other than Section 1193(f); Section 1194(b); Section 1195(c), (d), and (e) and (h); Section 1196 (b), (c) and (d); and Section 1199 (c) (4), shall apply to the returns and determination of tax due under this Chapter. The words 'income tax' whenever they appear in the applicable Sections of 1176 through 1203 shall be deemed to refer to the gift tax; references to the 'taxpayer' shall be deemed to refer to the donor; references to 'taxable income' shall be deemed to refer to taxable gifts; and references to Sections of Subchapter IX of Chapter 11 of this Title shall be deemed to refer to the application of these Sections to the gift tax.

§1408. Incorporation of Certain Personal Income Tax Enforcement Provisions

The provisions of Sections 1211 through 1233, inclusive, of this Title, other than Section 1218, shall apply to the enforcement of this Chapter as if the Chapter referred to therein were this Chapter and the tax referred to therein were the gift tax.

§1409. Rules and Regulations

The Secretary of Finance may issue such rules and regulations as may be deemed necessary or appropriate in the administration and enforcement of this Chapter."

Section 6. This Act shall apply with respect to gifts made after December 31, 1981.

Approved June 29, 1982.