Regulatory Alerts2012-02-01
Added · Updated
Final: 1114 Alternative Franchise Tax
The State Bank Commissioner amends line 10 in Schedule 2 for Forms 1114E and 1114F in Regulation 1114 to conform with changes in Section 1101A(d) of Title 5 of the Delaware Code under 78 Del. Laws Ch. 72. The amendments update the location benefit tax calculation parameters, including minimum tax amounts and tiered rates applied to net operating income. These changes apply to banking organizations and trust companies that elect to pay the alternative franchise tax. The amendments become effective on February 11, 2012.
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