Home/Delaware/Statutes/Title: 8/Ch. 5: CORPORATION FRANCHISE TAX/§ 507
Delaware Statutes

§ 507 — Collection of tax; preferred debt

Delaware § 507
JurisdictionDelaware
Title8
Ch. 5CORPORATION FRANCHISE TAX

This text of Delaware § 507 (Collection of tax; preferred debt) 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. 8, § 507 (2026).

Text

The franchise tax shall be a debt due from the corporation to the State, for which an action at law may be maintained after the same shall have been in arrears for a period of 1 month. The tax shall also be a preferred debt in case of insolvency.

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Legislative History

21 Del. Laws, c. 166, § 6 ; 22 Del. Laws, c. 15, § 6 ; Code 1915, § 107; 36 Del. Laws, c. 6, § 5 ; Code 1935, § 100; 8 Del. C. 1953, § 507; 55 Del. Laws, c. 90, § 1 ; 58 Del. Laws, c. 450, § 5

Nearby Sections

9
§ 501
Corporations subject to and exempt from franchise tax
§ 502
Annual franchise tax report; contents; failure to file and pay tax; duties of Secretary of State
§ 503
Rates and computation of franchise tax
§ 504
Collection and disposition of tax; tentative return and tax; penalty interest; investigation of annual franchise tax report; notice of additional tax due
§ 505
Review and refund; jurisdiction and power of the Secretary of State; appeal
§ 506
Fund for payment of refunds
§ 507
Collection of tax; preferred debt
§ 508
Injunction against exercise of franchise or transacting business
§ 509
Further remedy in Court of Chancery; appointment of receiver or trustee; sale of property
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Bluebook (online)
Delaware § 507, Counsel Stack Legal Research, https://law.counselstack.com/statute/de/8/507.