Delaware is one of the worst-ranked states on the State Business Tax Climate Index when it comes to individual income tax. Yet lawmakers recently introduced House Bill 13 which would create two new tax brackets. These new brackets would be taxed at the highest rate.
Decisions from Dover continuously make taxes worse for small business owners across the state. Our current tax climate is bad for business, competition, and attracting qualified workers. The First State should be ranked one of the best for personal taxes, not one of the worst.
BACKGROUND
Income above $125,000 would be taxed as follows:
1. In excess of $125,000 but not in excess of $250,000, at 6.75%.
2. In excess of $250,000, at 6.95%.
This will affect pass-through businesses that file as individuals.
In order to move toward a more competitive tax structure and an economic environment that helps small businesses and their workers thrive, the General Assembly needs to prevent new tax brackets from being made, not create them.
Contact your lawmakers TODAY about how adding new tax brackets will impact your business!
WHAT’S YOUR STORY?
Tell your legislators what they need to hear about how adding tax brackets will affect your business. Share your story.
Your story shows legislators the impact increasing taxes has on real life. You want legislators to picture your business before they make any decisions. They are more likely to read, respond, and react to custom messages. Please use the available space to write a personalized message to your legislators, sharing your business name and story.
Thank you for taking action!