(a) Any taxpayer that satisfies the requirements contained in § 2011(a) or § 2011(l) of this title for the allowance of a credit against the tax imposed by Chapter 19 of this title (relating to corporation income tax), for the taxable year of the taxpayer in which a qualified facility is placed in service by the taxpayer, shall also be allowed a reduction in any license fee, other than those set forth in §§ 2902(c)(4) and 2905(h) of this title, imposed upon the taxpayer’s gross receipts by Chapter 27 of this title or by §§ 2301(d), 2902, 2903, 2904 of this title or, in the case of an activity described in §§ 2010(3)j., 2905 of this title for each taxable period used in computing the amount of such license fee that ends within or with such taxable year of the taxpayer, and for each such taxable period that ends within or with any of the 9 following taxable years in which such facility is a qualified facility with respect to the taxpayer on the last business day thereof. The amount of each such reduction in such license fee shall be determined under subsection (b) of this section.

Terms Used In Delaware Code Title 30 Sec. 2012

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Qualified facility: is a ny qualified property located within this State that constitutes a new facility or an expanded facility and that is used by the taxpayer in or in connection with a qualified activity. See Delaware Code Title 30 Sec. 2010
  • Qualified facility gross receipts: means the total Delaware gross receipts (as defined and computed under those provisions of Chapter 23, 27 or 29 of this title that apply to the qualified activity in question) attributable to and derived by the taxpayer from the operation of the qualified facility in question. See Delaware Code Title 30 Sec. 2010
  • Tax: shall be deemed also to refer to license fees imposed under Part III of this title. See Delaware Code Title 30 Sec. 502
  • Taxable: means any person, fiduciary, association of persons, syndicate, joint venture or copartnership subject to making return or to payment of tax imposed by this title. See Delaware Code Title 30 Sec. 101
  • Taxpayer: means an individual pass-through entity, as defined in § 1601 of this title, or corporation. See Delaware Code Title 30 Sec. 2010
  • Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302

(b) The reduction in the license fee allowable by subsection (a) of this section shall be that percentage of such license fee (computed without regard to this section) imposed upon the taxpayer’s qualified facility gross receipts attributable to the operation of such qualified facility (as determined under § 2010(11) of this title) as shall be determined in accordance with the following table:

If the number of full The license fee
calendar months elapsed (computed without
since such quali?ed regard to this
facility was placed section) shall be
in service by the reduced by the
taxpayer is: following percentage:
1 through 12 90%
13 through 24 80%
25 through 36 70%
37 through 48 60%
49 through 60 50%
61 through 72 40%
73 through 84 30%
85 through 96 20%
97 through 108 10%
109 through 120 5%
Over 120 0%
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