AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX.

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX.

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX.

What This Bill Does

• AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX.
• Like under House Bill No.
• 13 (HB 13) and House Substitute No.
• 1 for HB 13 (HS 1 for HB 13), this Act adjusts the existing personal income tax brackets and applicable tax rates.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX.
Like under House Bill No. 13 (HB 13) and House Substitute No. 1 for HB 13 (HS 1 for HB 13), this Act adjusts the existing personal income tax brackets and applicable tax rates. Under this Act, for taxable years beginning after December 31, 2025, taxable income between $60,000 and $150,000 will continue to be taxed at a rate of 6.6%, but taxable income above $150,000 will be taxed at higher rates.

The result of the changes under this Act will be that those with a taxable income of $188,500 or less will see no increase in personal income taxes, with 94% of Delaware taxpayers receiving an overall tax decrease.

Like HS 1 for HB 13, House Substitute No. 2 for HB 13 differs from HB 13 as follows:
• Creates additional tax brackets for taxable income not in excess of $60,000.
• Decreases the tax rate for all tax brackets for taxable income not in excess of $60,000.
• Creates 3 additional tax brackets for taxable income above $60,000 instead of 2.
• Names this Act the “The John Kowal