Delaware § 2005 State income tax credit; amount

Delaware Statutes

§ 2005 — State income tax credit; amount

Delaware § 2005

JurisdictionDelaware

Title30

PartIncome, Inheritance and Estate Taxes

Ch. 20BUSINESS TAX CREDITS AND DEDUCTIONS

Subch.Neighborhood Assistance Tax Credit

This text of Delaware § 2005 (State income tax credit; amount) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 30, § 2005 (2026).

Text

(a)For purposes of computing taxable income under Chapter 11 or Chapter 19 of this title, relating to the personal income tax and the corporation income tax, the Secretary of Finance shall allow a credit equal to 50% of the amount invested by a person in a program or in a neighborhood organization the proposal for which was approved under § 2004 of this title. Such tax credit, however, shall not exceed $50,000 per person per year. No person may receive more than $100,000 in tax credits during any 3-year period.

(b)Any investment made for which the tax credit herein described is claimed by a taxpayer shall not also be eligible for treatment as a charitable contribution deduction for state income tax purposes in calculating Delaware income tax liability.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) For purposes of computing taxable income under Chapter 11 or Chapter 19 of this title, relating to the personal income tax and the corporation income tax, the Secretary of Finance shall allow a credit equal to 50% of the amount invested by a person in a program or in a neighborhood organization the proposal for which was approved under § 2004 of this title. Such tax credit, however, shall not exceed $50,000 per person per year. No person may receive more than $100,000 in tax credits during any 3-year period.

(b) Any investment made for which the tax credit herein described is claimed by a taxpayer shall not also be eligible for treatment as a charitable contribution deduction for state income tax purposes in calculating Delaware income tax liability.

Legislative History

30 Del. C. 1953, § 2005; 56 Del. Laws, c. 405, § 1 ; 57 Del. Laws, c. 741, § 9B ; 58 Del. Laws, c. 492, § 3 ; 72 Del. Laws, 1st Sp. Sess., c. 250,, § 2 ; 76 Del. Laws, c. 172, §§ 11, 12 ; 79 Del. Laws, c. 95, § 1