Home
Forms Library
Reset 2009 - 2010 STATE OF DELAWARE APPLICATION FOR NEW BUSINESS FACILITY Department of Finance TAX

Reset 2009 - 2010 STATE OF DELAWARE APPLICATION FOR NEW BUSINESS FACILITY Department of Finance TAX -2025

Reset 2009 - 2010 STATE OF DELAWARE APPLICATION FOR NEW BUSINESS FACILITY Department of Finance TAX Preview on Page 1

See details

4 out of 5

42 votes

The document is an application form (Form 402AP) for new business facility tax credits in Delaware, issued by the Department of Finance's Division of Revenue. It outlines the requirements and instructions for businesses seeking corporate income tax credits or reductions in license taxes when establishing or expanding facilities in Delaware. The form requires information about the business, its activities, and qualifying facility details, including employee counts and property values. Approval from the Division of Revenue is necessary before claiming any tax benefits.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out Reset 2009 - 2010 STATE OF DELAWARE APPLICATION FOR NEW BUSINESS FACILITY Department of Finance TAX

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open it in the editor.
In Part A, enter your Federal Employer Identification Number in Line 1, followed by the name of the taxpayer in Line 2, and the address in Line 3. If the location of the qualifying business facility differs, provide that information in Line 4. Lastly, include a contact person's name and telephone number in Line 5.
Move to Part B and check all applicable boxes that describe your business activities. Ensure you select whether your facility is new, replacement, or located on a brownfield.
In Part C, enter the date when your facility was placed in service on Line 1. For Line 2, provide the value of real and tangible personal property associated with your business facility. If leased, complete Line 3 with lessor details.
Continue filling out Lines 4 and 5 with employee counts and previous owner information if applicable. Finally, confirm any relationships with previous owners in Line 6.

Start using our platform today to streamline your application process for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a loophole to avoid taxes?

In a way the Delaware Tax Trap is like the income tax grantor trust rules of Code Section 671, et. seq., when a creator of a trust may remain taxed on its income even though she cannot benefit from it.

What is the Delaware corporate tax loophole?

The infamous Delaware Loophole allows companies to avoid paying any corporate income tax where they earn the revenue, provided they are operating outside of the state.

What is the new business facility tax credit in Delaware?

New Business Facility Corporate Income Credit: Program provides an as-of-right tax credit to businesses that create at least 5 jobs and makes a capital investment of at least $200,000 ($40,000 per employee). The minimum credit is equal to $500 per job and an additional $500 for every $100,000 in capital investment.

What is Delaware Form 700?

Delaware Form 700 must be completed by the person actually claiming the credits on the Delaware income tax return. A qualified and approved C corporation or Sole Proprietor will claim the credit directly on their respective Delaware income tax return.

What is the Delaware business tax loophole?

The eponymous Delaware loophole doesnt tax revenue earned outside the state, and revenues derived from exploiting intangible assets (like leases and royalties) are treated as if they occurred in Delaware (where the company is incorporated) rather than the state in which those revenues were earned.

What are the disadvantages of forming an LLC in Delaware?

Summary. Tax loopholes can legally reduce an individuals or a businesss tax liability. Backdoor IRAs, carried interest, and life insurance are just some of the loopholes you can use to reduce your tax bills.

What is the penalty for filing taxes late in Delaware?

Late Filing Penalty: Failure to file the Annual Report by the March 1st due date results in an automatic $200 penalty. Interest: Interest is charged at 1.5% per month on both the unpaid franchise tax and the $200 penalty.

Reset 2009 - 2010 STATE OF DELAWARE APPLICATION FOR NEW BUSINESS FACILITY Department of Finance TAX -2025

Here's how it works