Review Panel Continues to Mull Delaware Tax Structure - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Review Panel Continues to Mull Delaware Tax Structure

Posted: Updated:

NEW CASTLE, Del. (AP) - A panel exploring how to make Delaware's revenue portfolio less unpredictable and more reflective of economic conditions is taking a close look at the state's corporate income and gross receipts tax systems.

Monday's meeting of the Structural Revenue Review Committee includes a background look at the corporate tax system, its conformity with the internal revenue code, and how it compares to other states.

The panel also will look at the background and history of the gross receipts tax on businesses.

The panel, which is to submit a report in April, was formed amid concerns that more than half of Delaware's revenues come from "inelastic" sources that do not respond to changes in Delaware's economy. Those revenue sources include lottery and gambling, abandoned property collections and bank and corporate franchise taxes.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Teen Hospitalized After OC Hotel Fall

    Teen Hospitalized After OC Hotel Fall

    Thursday, May 25 2017 9:48 PM EDT2017-05-26 01:48:06 GMT
    Friday, May 26 2017 7:22 AM EDT2017-05-26 11:22:21 GMT

    Ocean City police say a 17-year-old boy was hospitalized after falling from an unknown height at a hotel in Ocean City on Thursday afternoon.

    More

    Ocean City police say a 17-year-old boy was hospitalized after falling from an unknown height at a hotel in Ocean City on Thursday afternoon.

    More
  • Cruisin' Leaves its Mark on Ocean City

    Cruisin' Leaves its Mark on Ocean City

    Wednesday, May 24 2017 6:38 PM EDT2017-05-24 22:38:22 GMT
    Thursday, May 25 2017 7:41 AM EDT2017-05-25 11:41:49 GMT

     Cruisin' leaves it's mark on Ocean City. 

    More

    Last weekend's Cruisin' Ocean City event left its mark, in more ways than one. 

    More
  • Cambridge Traffic Stop Leads to Drug Arrest

    Cambridge Traffic Stop Leads to Drug Arrest

    Thursday, May 25 2017 7:56 PM EDT2017-05-25 23:56:24 GMT
    Friday, May 26 2017 7:15 AM EDT2017-05-26 11:15:24 GMT

    A Federalsburg man is being held without bond after a traffic stop lead to the discovery of drugs and weapons.

    More

    Authorities say a Federalsburg man is being held without bond after a traffic stop led to the discovery of drugs and weapons.

    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