Delaware Code Title 30 Sec. 2093 – New business certification process
(a) To qualify for a business finder’s fee credit, a proposed sponsor firm and proposed new business firm shall submit a joint application to the Division, which shall consider whether the application meets the following criteria:
(1) The proposed sponsor firm and proposed new business firm each meet the requirements of this subchapter to be a sponsor firm and new business firm, respectively;
(2) The new business firm intends to relocate to the State of Delaware as a result of recruitment efforts by the sponsor firm, including, but not limited to, written solicitations, inducements, or other incentives, and intends to establish a Delaware business location, and to obtain a Delaware business license within 8 months of the date of application;
(3) The new business firm intends to employ 3 or more full-time Delaware employees within 8 months of the date of application; and
(4) The new business firm is not receiving a tax credit pursuant to the New Economy Jobs Program set forth in subchapter IX of Chapter 20 of this title.
Terms Used In Delaware Code Title 30 Sec. 2093
- Credit: means a reduction of the final balance for tax reported due by a certified sponsor firm or a certified new business firm on a tax or information return pursuant to the Business Finder's Fee Program. See Delaware Code Title 30 Sec. 2091
- Director: means the Director of the Division of Small Business. See Delaware Code Title 30 Sec. 2091
- Division: means the Division of Small Business within the Department of State. See Delaware Code Title 30 Sec. 2091
- New business firm: means a business organization that certifies in a joint application pursuant to § 2093 of this title that it:
- Sponsor firm: means a business organization that certifies in a joint application pursuant to § 2093 of this title that it:
- State: means a state of the United States, the District of Columbia, Puerto Rico, The United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 30 Sec. 502
- Tax: shall be deemed also to refer to license fees imposed under Part III of this title. See Delaware Code Title 30 Sec. 502
(b) The Division shall review the joint application, and the Director shall, within the exercise of the Director’s discretion, certify those applications that meet the standards of subsection (a) of this section.
77 Del. Laws, c. 300, § ?1; 70 Del. Laws, c. 186, § ?1; 81 Del. Laws, c. 49, § 19;