Currently every domestic and foreign limited liability company registered in Delaware pays an annual tax of $300 to do business here. On March 28, Rep. John Kowalko introduced House Bill 101 which would increase that tax to $325. On May 3, he added an amendment that would raise the increase to $350.
HB 101 was scheduled for a hearing in the House Revenue & Finance Committee May 3, but Rep. Quinn Johnson's motion to table the bill passed. When the General Assembly recessed May 8, HB 101 was still sitting in committee.
Gov. John Carney's call for shared sacrifice includes a budget proposal of $37 million to be cut from education. The math is easy. There are 857,000 limited liability companies registered in Delaware. If each LLC paid $350 a year instead of the current $300, the $50 increase would generate an additional $43 million - and schools would not have to sacrifice $37 million.
What is difficult to understand is the failure to date of HB 101’s release for a full vote on the House floor.
Will one of the members of the Finance and Revenue Committee please let taxpayers know why HB 101 hasn’t been released from committee?
Carolyn Quinn
Lewes
-
A letter to the editor expresses a reader's opinion and, as such, is not reflective of the editorial opinions of this newspaper.
To submit a letter to the editor for publishing, send an email to newsroom@capegazette.com. Letters must be signed and include a telephone number and address for verification. Please keep letters to 500 words or fewer. We reserve the right to edit for content and length. Letters should be responsive to issues addressed in the Cape Gazette rather than content from other publications or media. Only one letter per author will be published every 30 days. Letters restating information and opinions already offered by the same author will not be used. Letters must focus on issues of general, local concern, not personalities or specific businesses.
