DE House Democrats Approve Tax Increases - 47 ABC - Delmarva's Choice

DE House Democrats Approve Tax Increases

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DOVER, Del. (AP) - Delaware House Democrats have approved a package of tax increases that Democratic Gov. Jack Markell is relying on to help pay for his proposed spending plan for next fiscal year.
    
The legislation approved Thursday on a straight party line vote increases the annual tax on limited liability companies and business partnerships from $250 to $300. It also increases the minimum annual corporation franchise tax by $100.
    
No Republicans voted for the bill, which received one more vote than the required three-fifths majority. Republicans unsuccessfully pushed for a two-thirds vote requirement, which the bill would have failed to meet.
    
Administration officials say the tax increases should generate an additional $51 million annually.

 

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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