Company Asks Del. for $63 Million Refund, Largest Ever for State - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Company Asks Del. for $63 Million Refund, Largest Ever for State

Posted: Updated:
(Photo: CBS) (Photo: CBS)

DOVER, Del.- A $63 million refund request has lawmakers starting budget hearings in Delaware concerned - even though they do not know yet if that request will go through.

"$63 million, in good times, is a lot of money," said Rep. Harvey Kenton, R-Milford. "Now in times when we're facing constraints, it certainly is a concern."

A company asked for the refund this past fall. It's the single largest request of its kind in state history. Delaware Secretary of Finance Tom Cook says the issue dates back about four years.

"It was due to a unique transaction."

The company says it recently realized taxes on that transaction should have gone to a different state. Cook isn't sure.

"We will evaluate and analyze the request and make the proper call," he said.

Cook expects to have an update for lawmakers in mid-March.

More than half of the Fortune 500 is incorporated in Delaware. And while it is clear only a large company could ask for such large refund, the Department of Finance, citing confidentiality laws, will not tell the public - won't even tell lawmakers - what company it is.

"We had meetings with the administration several weeks ago," Sen. Bruce Ennis, D-Smyrna, said. "I asked that question. Of course, due to confidentiality, they weren't allowed to say who it was. But I would feel more comfortable knowing who it was."

The potential for this hit was not factored into Gov. Jack Markell's budget proposal.

"There are always issues that are out there," said Cook. "Revenue projections change. It's a constantly evolving process."

So, lawmakers are left waiting and wondering if they'll have to find ways to deal with $63 million less in next year's budget.

"That's in the back of the minds of everybody on the Joint Finance Committee," Kenton said.

Kenton says he's also heard the state may be getting an influx of $65 million, which is currently unaccounted for. If that happens too it would balance out the hit for Delaware.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Downtown Tree Lighting Excites Community

    Downtown Tree Lighting Excites Community

    11/17/2017 23:38:00 -05:002017-11-18 04:38:00 GMT
    Friday, November 17 2017 11:45 PM EST2017-11-18 04:45:07 GMT
    Downtown Salisbury Tree Lighting CeremonyDowntown Salisbury Tree Lighting Ceremony
    SALISBURY, Md.- Downtown Salisbury flipped the switch on Friday night, lighting up their 18-foot Christmas tree and 5-foot menorah for the holiday season. With the excitement of this first holiday event many community members said even though it isnMore
    Downtown Salisbury flipped the switch on Friday night, lighting up their 18-foot Christmas tree and 5-foot menorah for the holiday season.More
  • Hearing in Delaware Prison Lawsuit Postponed

    Hearing in Delaware Prison Lawsuit Postponed

    11/17/2017 19:27:00 -05:002017-11-18 00:27:00 GMT
    Friday, November 17 2017 7:27 PM EST2017-11-18 00:27:47 GMT
    The James T. Vaughn Correctional Center in Smyrna, Del. (Photo: WBOC)The James T. Vaughn Correctional Center in Smyrna, Del. (Photo: WBOC)
    DOVER, Del. (AP) - A judge has granted a request by lawyers for Delaware to delay a hearing in a federal lawsuit filed against the state in a deadly prison siege.U.S. District Judge Richard Andrews granted the request Friday, according to court records.More
    DOVER, Del. (AP) - A judge has granted a request by lawyers for Delaware to delay a hearing in a federal lawsuit filed against the state in a deadly prison siege.U.S. District Judge Richard Andrews granted the request Friday, according to court records.More
  • New Report Finds Industrial Facilities Violating Pollution Permits, Harming Bay

    New Report Finds Industrial Facilities Violating Pollution Permits, Harming Bay

    11/17/2017 19:10:00 -05:002017-11-18 00:10:00 GMT
    Friday, November 17 2017 7:10 PM EST2017-11-18 00:10:32 GMT
    From the sewer to the ocean and everything in between, environmentalists say stormwater pollution is draining the health of the Chesapeake Bay.
    It's a problem that isn't getting better.
    More
    From the sewer to the ocean and everything in between, environmentalists say stormwater pollution is draining the health of the Chesapeake Bay.
    It's a problem that isn't getting better.
    More
  • Most Popular StoriesMost Popular StoriesMore>>

  • Parkside High School Teacher Back Behind Bars

    Parkside High School Teacher Back Behind Bars

    11/17/2017 17:29:00 -05:002017-11-17 22:29:00 GMT
    Friday, November 17 2017 5:29 PM EST2017-11-17 22:29:39 GMT
    Monica W. SneeMonica W. Snee
    The Wicomico County Sheriff's Office says the Parkside High School teacher arrested earlier this week in connection to a drug investigation is back behind bars.More
    The Wicomico County Sheriff's Office says the Parkside High School teacher arrested earlier this week in connection to a drug investigation is back behind bars.More
  • Parkside High Student Tased During Arrest

    Parkside High Student Tased During Arrest

    11/17/2017 15:57:00 -05:002017-11-17 20:57:00 GMT
    Friday, November 17 2017 3:57 PM EST2017-11-17 20:57:05 GMT
    Parkside High School (Photo: WBOC)Parkside High School (Photo: WBOC)
    The Wicomico County Sheriff's Office reports a Parkside High School student was tased by police during a drug investigation.More
    The Wicomico County Sheriff's Office reports a Parkside High School student was tased by police during a drug investigation.More
  • Six Arrested in Seaford Prostitution Sting

    Six Arrested in Seaford Prostitution Sting

    11/16/2017 13:46:00 -05:002017-11-16 18:46:00 GMT
    Friday, November 17 2017 10:14 AM EST2017-11-17 15:14:25 GMT

    Police have uncovered a prostitution operation involving six suspects in the city of Seaford.

    More

    Police say an undercover prostitution sting led to the arrests of six men in Seaford, Delaware on Tuesday.

    More
  • Most Popular VideosMost Popular VideosMore>>

  • Ocean City Safety, Median Fence along Ocean City Coastal Highway Underway

    Ocean City Safety, Median Fence along Ocean City Coastal Highway Underway

    Work is underway to keep pedestrians safe along Coastal Highway. 

    Workers used construction machinery to remove landscaping from the media. They're preparing to install a 5-7 foot aluminum fence that will stretch from the convention center to 62nd street.

    Maryland State Highway Administration says their number one goal for this 7 million dollar project is pedestrian safety.

    More

    Work is underway to keep pedestrians safe along Coastal Highway. 

    Workers used construction machinery to remove landscaping from the media. They're preparing to install a 5-7 foot aluminum fence that will stretch from the convention center to 62nd street.

    Maryland State Highway Administration says their number one goal for this 7 million dollar project is pedestrian safety.

    More
  • Milford Family Collecting Donations After Fire Destroys Home

    Milford Family Collecting Donations After Fire Destroys Home

    A Milford family is collecting donations after a fire destroyed their home Tuesday.

    Four generations of Julie Connelly's family lived in the home on South Washington Street in Milford, before a space heater caught fire and caused $100,000 in damage. 

    More

    A Milford family is collecting donations after a fire destroyed their home Tuesday.

    Four generations of Julie Connelly's family lived in the home on South Washington Street in Milford, before a space heater caught fire and caused $100,000 in damage. 

    More
  • Barn Fire at DSU Under Investigation

    Barn Fire at DSU Under Investigation

    A barn in back of the Delaware State University campus in Dover caught fire Thursday night, authorities said.

    According to the Dover Fire Department, the blaze was reported at 7:30 p.m. Thursday. It took firefighters from Dover, Cheswold, Little Creek, and Leipsic Fire Departments nearly two hours to get the two-alarm fire under control. Part of the 50-foot by 100-foot barn collapsed during the fire.

    More

    A barn in back of the Delaware State University campus in Dover caught fire Thursday night, authorities said.

    According to the Dover Fire Department, the blaze was reported at 7:30 p.m. Thursday. It took firefighters from Dover, Cheswold, Little Creek, and Leipsic Fire Departments nearly two hours to get the two-alarm fire under control. Part of the 50-foot by 100-foot barn collapsed during the fire.

    More
Powered by Frankly

All content © Copyright 2000 - 2017 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices