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Below is a snapshot of key features of Delaware tax system. (Scroll Down)
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State & Local Revenue (FY08)
- General Revenue, Own-Source (GROS): $6.6 billion
- General Revenue as a Share of Income: 18.7%
- Tax Revenue: $3.7 billion
- Tax Revenue as Share of income: 10.6%
- Personal Income Tax (Share of Tax Revenue): 28.7% (13 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 8.3% (4 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 13.2% (49 out of 51)
- Property Tax (Share of Tax Revenue): 16.3% (47 out of 51)
- Other Taxes (Share of Tax Revenue): 32.2% (2 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: 0% - 6.95%
- Standard Deduction: $3,250 ($6,500 for Married Couples)
- Personal Exemption: Per Filer Credit=$110
- Dependent Exemption: Per Dependent Credit=$110
- Earned Income Tax Credit (EITC): 20% Refundable
- Personal exemption is available as a credit
- Top rate is 6.95% in 2011 and 6.75% 2012 through 2014
Corporate Income Tax Features (2011)
- Range of Tax Rates: 8.70%
- Income Level at Which Top Rate Applies: All
- Combined Reporting: No
- Apportionment Factor (Payroll): 33%
- Apportionment Factor (Property): 33%
- Apportionment Factor (Sales): 33%
Sales Tax Features (2011)
- State Sales Tax Rate: N/A
- Average Local Sales Tax Rate: N/A
- Average Combined State & Local Sales Tax Rate: N/A
- State Sales Tax Treatment of Groceries: N/A
- Local Sales Tax Treatment of Groceries: N/A
- Number of Services Taxed: 143 out of 168 surveyed
- Streamlined Sales Tax Membership: No
- Levies Gross Receipts Tax in lieu of sales tax (rate varies between business activities)
Property Tax Features (2011)
- No property tax relief mechanism available for non-elderly homeowners or renters.
- Infrequent assessments. Property underassessed and non-uniformly assessed
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.23
- Diesel Tax Rate (per gallon): $0.22
- Cigarette Tax Rate (per pack): $1.60
- Estate or Inheritance Tax: Yes
- Net Lottery Sales Per Capita: $853
Tax Policy Oversight
- Tax Expenditure Report: Yes
- Tax Incidence Analysis Capability: Personal income tax only
Last Updated August 25, 2011
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