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A gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is often compared to a sales tax ; the difference is that a gross receipts tax is levied upon the seller of goods or services, while a sales tax is nominally levied upon the buyer (although both are ...
The statewide portion consists of two parts: a 6.5% sales tax with receipts going to the state General Fund, and a 0.375% tax going to arts and environmental projects. The 0.375% tax was passed by a statewide referendum on Nov. 4, 2008, and went into effect on July 1, 2009. [133]
Wholesale sales tax, a tax on sales of wholesale of tangible personal property when in a form packaged and labeled ready for shipment or delivery to final users and consumers; Retail sales tax, a tax on sales of retail of tangible personal property to final consumers and industrial users [3] Gross receipts taxes, levied on all sales of a ...
Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale. Use tax is self assessed by a buyer who has not paid sales tax on a taxable purchase. Unlike value added tax, sales tax is imposed only once, at the retail level, on any particular goods. Nearly all jurisdictions ...
Delaware charges a franchise tax on the corporations incorporated in it. Franchise taxes in Delaware are higher than in most other states which typically get revenue from corporate income taxes on the portion of the corporation's business done in that state. Delaware's franchise taxes supply about one-fifth of its state revenue. [17]
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Franchise taxes on Delaware corporations supply about one-fifth of its state revenue. [23] Although "USA (Delaware)" ranked as the world's most opaque jurisdiction on the Tax Justice Network 's 2009 Financial Secrecy Index, [ 24 ] the same group's 2011 Index ranks the USA fifth and does not specify Delaware. [ 25 ]
Delaware has six different income tax brackets, ranging from 2.2% to 5.95%. The state does not assess sales tax on consumers. The state does, however, impose a tax on the gross receipts of most businesses. Business and occupational license tax rates range from 0.096% to 1.92%, depending on the category of business activity. Delaware does not ...