CHAPTER 74

FORMERLY

HOUSE BILL NO. 128

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE AND CHAPTER 77, VOLUME 77 OF THE LAWS OF DELAWARE RELATING TO TAXES ON PERSONAL INCOME.

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

Section 1. Amend Chapter 77, Volume 77 of the Laws of Delaware by striking said chapter in its entirety.

Section 2. Amend § 1102(a), Title 30 of the Delaware Code, by striking paragraphs (10) – (12) as they appear therein and inserting in lieu thereof the following:

"(10) For taxable years beginning after December 31, 1999, and before January 1, 2010, the amount of tax shall be determined as follows: 2.2% of taxable income in excess of $2,000 but not in excess of $5,000; 3.9% of taxable income in excess of $5,000 but not in excess of $10,000; 4.8% of taxable income in excess of $10,000 but not in excess of $20,000; 5.2% of taxable income in excess of $20,000 but not in excess of $25,000; and 5.55% of taxable income in excess of $25,000 but not in excess of $60,000.

(11) For taxable years beginning after December 31, 1999, and before January 1, 2010, the amount of tax shall be determined by reference to paragraph (a)(10) of this section and 5.95% of taxable income in excess of $60,000.

(12) For taxable years beginning after December 31, 2009, and before January 1, 2012, the amount of tax shall be determined as follows: 2.2% of taxable income in excess of $2,000 but not in excess of $5,000; 3.9% of taxable income in excess of $5,000 but not in excess of $10,000; 4.8% of taxable income in excess of $10,000 but not in excess of $20,000; 5.2% of taxable income in excess of $20,000 but not in excess of $25,000; 5.55% of taxable income in excess of $25,000 but not in excess of $60,000; and 6.95% of taxable income in excess of $60,000.".

Section 2. Amend § 1102(a), Title 30 of the Delaware Code, by adding new paragraphs (13) and (14) to read as follows:

"(13) For taxable years beginning after December 31, 2011, and before January 1, 2014, the amount of tax shall be determined as follows: 2.2 % of taxable income in excess of $2,000 but not in excess of $5,000; 3.9 % of taxable income in excess of $5,000 but not in excess of $10,000; 4.8 % of taxable income in excess of $10,000 but not in excess of $20,000; 5.2 % of taxable income in excess of $20,000 but not in excess of $25,000; 5.55% of taxable income in excess of $25,000 but not in excess of $60,000; and 6.75% of taxable income in excess of $60,000.

(14) For taxable years beginning after December 31, 2013, the amount of tax shall be determined as follows: 2.2 % of taxable income in excess of $2,000 but not in excess of $5,000; 3.9 % of taxable income in excess of $5,000 but not in excess of $10,000; 4.8 % of taxable income in excess of $10,000 but not in excess of $20,000; 5.2 % of taxable income in excess of $20,000 but not in excess of $25,000; 5.55% of taxable income in excess of $25,000 but not in excess of $60,000; and 5.95% of taxable income in excess of $60,000.".

Section 4. If any clause, sentence, section, provision or part of this Act shall be adjudged to be unconstitutional or invalid for any reason by any court of competent jurisdiction, such judgment shall not impair, invalidate, or affect the remainder of this Act, which shall remain in full force and effect.

Section 5. This Act shall be effective upon enactment.

Approved July 01, 2011