IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 17 Mar 2016 | Removal date: open ended
Still in force

Tax or social insurance relief

On March 17, 2016 the governor of Delaware signed into law a bill (SB 200) entitled the Commitment to Innovation Act, including provisions incentivizing companies to establish headquarters in Delaware. It modifies the New Economy Jobs tax credit, which provides an incentive for companies to establish global corporate headquarters in Delaware. Companies that choose to do this are eligible to receive a tax credit calculated based on the value of their total income tax withholding payments to the state. One aim of this provision is to attract the headquarters of the new spin-offs that are planned as a result of the proposed Dow-DuPont merger.

Another provision in the act ensures all companies receive the full research and development tax credit for which they qualify by removing the annual expenditure cap of $5 million and making the credit refundable.

AFFECTED COUNTRIES

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