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Delaware charges a franchise tax on the corporations incorporated in it. Franchise taxes in Delaware are higher than in most other states which typically get revenue from corporate income taxes on the portion of the corporation's business done in that state. Delaware's franchise taxes supply about one-fifth of its state revenue. [17]
The department's responsibilities include maintaining 89 percent of the state's public roadways (the Delaware State Route System) totaling 13,507 lane miles, snow removal, overseeing the "Adopt-A-Highway" program, overseeing E-ZPass Delaware, the Division of Motor Vehicles (DMV), and the Delaware Transit Corporation (known as DART First State). [2]
It was estimated in 2012 that $9.5 billion of potential taxes had not been levied over the past decade, due to an arrangement known as the "Delaware loophole". [2] Companies formed in Delaware are required to have an address in the state at which process may be served .
The taxes and fees generated by those businesses brought Delaware about $2 billion in 2022. But other states have been chipping away at Delaware’s standing in recent years by creating their own ...
A variety of checks against abuse are usually present to prevent embezzlement by accounts payable personnel. Separation of duties is a common control. In countries where cheques payment are common nearly all companies have a junior employee process and print a cheque and a senior employee review and sign the cheque.
In addition, Delaware statutory trusts were shown to be considered a trust for federal tax purposes, making them a pass through entity that mitigates taxation for their trustee(s). [8] [9] The second holding offers the opinion that real property, being held under a Delaware statutory trust, is eligible to use a 1031 exchange, without the ...
A Delaware State Trooper is facing several felony charges involving a brutal assault on a teenager who targeted the trooper’s house in a prank. An indictment issued Monday against Trooper ...
Delaware's economy shifted to a manufacturing base in the late 19th century, led by the transformation of the DuPont Company. [1] Modern growth in the financial workforce has overtaken the manufacturing sector in the state's economy. The Delaware General Corporation Law provides a flexible and stable framework for national incorporation. [2]
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