Corporate Taxes - Kent County, Delaware

Tax Incentives are available to many targeted industries based on capital investment and new jobs created. Kent County and the City of Dover both offer a property tax incentive program. In addition to the local incentives, the State of Delaware offers tax incentives, workforce training assistance, direct loans and cash incentives, corporate income tax reductions, as well as gross receipts tax reductions for certain qualifying industries.


Corporate Income Tax:     8.7%


Bank Franchise Tax:

8.7% on net income up to $20 million
6.7% on net income $20 to $25 million
4.7% on net income $25 to $30 million
2.7% on net income of $30 million & more
1.7% on net income of $650 million & more


Corporation Franchise Tax:

Par Value Stock
(initial cost)
 
Up to $2,000,000 $0.20 per $1,000
$2 mil to $20 mil $0. 10 per $1, 000
Over $20,000,000 $0.04 per $1,000
No Par Value Stock
(initial cost)
 
Up to 20,000 shares $0.01 per share
20,000 to 2 mil. shares $0.005 per share
Over 2,000,000 shares $0.0020 per share
Annual Report Filing Fee: $25.00
Annual Tax: Minimum - $75.00 per year
  Maximum - $165,000.00 per year
Gross Receipts Tax: Annual Fee of $75.00. 0.4% to 0.25% on gross receipts depending on industry
Realty Transfer Tax: 2% (1% buyer, 1% seller)

Tax Incentives

No general sales tax, no unitary tax, no fixtures tax, no personal property, or inventory tax. Tax incentives and/or credits are also available from the State of Delaware. To find out if your company could benefit from these tax credits go to the Tax incentive calculator at:

http://dedo.delaware.gov/calctest.shtml 

Tax Incentives for Targeted Industries - Kent County and City of Dover

Kent County has a 9 year property tax incentive program that reduces the tax during the first tax year by 90 % and then declines 10 % each year until in year 10 full taxation is reached. The City of Dover also has different targeted industries but also follows the same basic format. For more information on either one of these programs, call the Kent Economic Partnership, Inc. at 302-678-3028.

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