Delaware Decouples From Corporate Provisions in Federal Tax Code

Delaware decouples from corporate provisions in federal tax code

Gov. Matt Meyer swiftly signed a bill that would decouple from key provisions in the One Big Beautiful Bill Act, though the business community is concerned that it will have downstream impacts. The post Delaware decouples from corporate provisions in federal tax code appeared first on Delaware Business Times.

Delaware reverses some effects of signature Trump bill

Why Should Delaware Care?Financial analysts recently estimated that Delaware could stand to lose hundreds of millions of dollars in corporate taxes under new cuts made in the One Big Beautiful Bill Act. That has led Democrats to push for decoupling the tax code, while Republicans want the governor to pare back spending. Delaware’s business taxes no longer mirror the IRS’s – at least, not completely.   On Wednesday, the State Senate convened for …

GOVERNOR MEYER SIGNS BILL TO SAVE STATE FROM $400 MILLION REVENUE SHORTFALL

DOVER — Governor Matt Meyer signed House Bill 255, a critical measure to keep Delaware’s finances on solid footing while protecting public services families depend on. The legislation decouples Delaware from select federal tax‐code changes that threatened to strip as much as $400 million in revenue—and ensures those dollars remain working for Delaware’s schools, public safety, and essential services. “This is a perfect example of the government …

Delaware Senate Passes House Bill 255

Governor Matt Meyer has signed legislation, a bill the Delaware Senate has passed, that officials say would protect state revenues by “decoupling” Delaware’s tax code from two specific provisions of the federal Internal Revenue Code. House Bill 255 was introduced following the October meeting of the Delaware Economic and Financial Advisory Council (DEFAC), during which it was reported that Delaware could face a drop in revenue of more than $400 …