House Bill 175 (Chapter 53) signed by the governor and effective July 2 alters various fees assessed by the Secretary of State. Most changes to the fees and taxes assessed will take effect on August 1, 2017; however, increases to the maximum franchise tax and the late penalty for the filing of an annual franchise tax report shall take effect for the tax year beginning January 1, 2017, and the increase of the assumed par value multiplier for calculation of the corporate franchise tax and the authorized shares multiplier for corporations with greater than 10,000 authorized shares for calculation of the corporate franchise tax shall take effect for the tax year beginning on January 1, 2018. A summary of HB 175 can be accessed at https://legis.delaware.gov/BillDetail?legislationId=25780 and the bill text can be accessed at https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=25780&legislationTypeId=1&docTypeId=2&legislationName=HB175

House Bill 279 (Chapter 56) signed by the governor July 2 and effective August 1, 2017 increased the realty transfer tax by 1%.  A summary can be accessed at https://legis.delaware.gov/BillDetail?LegislationId=26206 and the bill text can be accessed at https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=26206&legislationTypeId=1&docTypeId=2&legislationName=HB279

Senate Substitute 1 for Senate Bill 79 (Chapter 48) signed by the governor and effective June 29 makes corrections and changes relating to abandoned or unclaimed property to Senate Bill 13 (Chapter 1) signed on February 2, 2017. A summary can be accessed at https://legis.delaware.gov/BillDetail?LegislationId=25869 and the bill text can be accessed at https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=25869&legislationTypeId=6&docTypeId=2&legislationName=SS1

Delaware – Legislation Alters Various Fees Assessed by the Secretary of State