Regulatory Alerts2020-10-01
Added · Updated
Final Order Amending Regulations for Election to Be Treated as a Subsidiary Corporation for Tax Purposes
The State Bank Commissioner adopts amended Regulations 801, 1101, 1104, 1105, 1107, 1108, 1111, 1112, 1113, 1114, and 1201, effective October 11, 2020. These amendments update the mailing and delivery addresses for the Office of the State Bank Commissioner across the specified regulations. The document codifies the requirements for corporations to elect treatment as a subsidiary corporation for Delaware tax purposes, including an ownership test requiring at least 80% voting power held by a qualifying entity and an employment test requiring at least 200 employees in Delaware. It further establishes filing deadlines, supplemental reporting obligations for consolidated franchise tax reports, and procedures for the termination of such elections.
More like this from OSBC
We email you every new OSBC publication the day it's published.