Thursday, March 14, 2013 - 7:19pm
Tax bills introduced in Del. House
Updated Friday, March 15, 2013 - 11:59am
Democratic lawmakers have introduced a series of tax bills incorporating proposals made by Gov. Markell in his budget for the upcoming fiscal year.
Two bills introduced Thursday would keep increases in corporate franchise and estate taxes that were approved in 2009 from expiring after 4 years as planned.
Other bills reflect the Democratic governor's proposal to also keep higher personal income and gross receipts taxes from expiring, but with slight decreases in tax rates.
The top personal income tax rate on incomes above $60,000 would go from 6.75 percent to 6.6 percent, up from the 2009 rate of 5.95 percent.
The gross receipts tax on most businesses would drop by one percent from the current rate, while the rate for manufacturers would decrease by 30 percent.
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