Terms Used In Delaware Code > Title 30 > Chapter 20 > Subchapter II - Tax Credit and License Fee Reduction for Creation of Employment and Qualified Investment in Business Facilities

• aviation services: means a business conducted by an employer in Delaware:

  1. See Delaware Code Title 30 Sec. 2010

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Delaware qualified research and development: shall mean qualified research as defined in § 41(d) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U. See Delaware Code Title 30 Sec. 2010
• Delaware qualified research and development expenses: shall mean qualified research expenses as defined in § 41(b) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U. See Delaware Code Title 30 Sec. 2010
• dollars: means lawful money of the United States. See Delaware Code Title 1 Sec. 302
• Expanded facility: is a ny qualified property (other than a replacement facility) resulting from the acquisition, construction, reconstruction, installation or erection of improvements or additions to existing property (not including any improvement or addition resulting from a repair, refurbishing, retooling (such as retooling by an automobile manufacturer), recycling or other similar process or procedure that merely preserves or restores the value of an existing facility, and not including any improvement or addition that, in the determination of the Secretary, does not constitute an integral part of a qualified activity), if such improvements or additions are placed in service by the taxpayer as owner, lessee or sublessee after December 31, 1984, but only to the extent of the taxpayer's qualified investment in such improvements or additions. See Delaware Code Title 30 Sec. 2010
• fixed base percentage: shall mean the percentage which the aggregate Delaware qualified research and development expenses for the 4 taxable years immediately preceding the taxable year in which the expenses are taken into account for purposes of Delaware income taxation bear to the aggregate gross receipts for such years. See Delaware Code Title 30 Sec. 2010
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• New facility: is a ny qualified property (other than an expanded facility or a replacement facility) placed in service by the taxpayer as owner, lessee or sublessee after December 31, 1984; provided, however, that such phrase shall not include any property the original use of which commenced prior to the time the taxpayer placed such property in service if:

  a. See Delaware Code Title 30 Sec. 2010

• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means and includes an individual, a trust, estate, partnership, association, company or corporation. See Delaware Code Title 30 Sec. 502
• Personal property: All property that is not real property.
• Qualified activity: is:

  a. See Delaware Code Title 30 Sec. 2010

• Qualified employee: is a person employed within this State on a regular and full-time basis. See Delaware Code Title 30 Sec. 2010
• 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
• Qualified property: is:

  a. See Delaware Code Title 30 Sec. 2010

• qualified research expenses: shall mean "Delaware qualified research and development expenses" and references to "qualified research" shall mean "Delaware qualified research and development. See Delaware Code Title 30 Sec. 2010
• Related person: means :

  a. See Delaware Code Title 30 Sec. 2010

• Replacement facility: is a ny property (other than an expanded facility) that replaces or supersedes any other property located within this State that:

  a. See Delaware Code Title 30 Sec. 2010

• Secretary: means the Secretary of Finance or the Secretary's delegate. See Delaware Code Title 30 Sec. 2010
• 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
• 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
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302