Title 5 — Banking
30 chapters · 197 sections in this title.
5 Del. C. § 1101. Tax on net earnings.
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§ 1101. Tax on net earnings. (a) A franchise tax is hereby imposed on the “taxable income” of banking organizations and trust companies (computed on a basis that consolidates with the income of such banking organization or trust company for the tax year involved, the income of al…
5 Del. C. § 1101A. Alternative annual franchise tax; rate of taxation.
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§ 1101A. Alternative annual franchise tax; rate of taxation. (a) Any banking organization or trust company required to pay a franchise tax pursuant to § 1101 of this title may annually elect, on its original return or on an amended return filed within 180 days of the due date of …
5 Del. C. § 1102. Statement of net income to be filed.
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§ 1102. Statement of net income to be filed. (a) For purposes of assessment, the president, treasurer or other proper officer of every banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State (or out-of-sta…
5 Del. C. § 1103. Review of tax.
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§ 1103. Review of tax. The assessment of tax under this chapter shall be reviewed and corrected by the State Bank Commissioner upon application by any party interested, prior to the first day of May in the year in which the tax is levied, if, upon such application, good cause be …
5 Del. C. § 1104. Date of payment and collection of tax; estimated tax.
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§ 1104. Date of payment and collection of tax; estimated tax. (a) Taxes imposed under this chapter are due and payable on or before March 1 in the year in which they are assessed, and after that date shall be collected by the State Bank Commissioner. Except that with respect to a…
5 Del. C. § 1105. Rate of taxation; credits [For application of this section, see 79 Del. Laws, c. 291, §§ 2 and 3].
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§ 1105. Rate of taxation; credits [For application of this section, see 79 Del. Laws, c. 291, §§ 2 and 3]. (a) The rate of tax upon the taxable income of banking organizations, trust companies and federal savings banks not headquartered in this State but maintaining branches in t…
5 Del. C. § 1106. Disposition of taxes.
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§ 1106. Disposition of taxes. All moneys collected or received under this chapter shall be the moneys of the State, and the State Bank Commissioner shall pay all amounts so collected and received into the General Fund of the State Treasury.32 Del. Laws, c. 104, § 11; Code 1935, §…
5 Del. C. § 1107. Duties of Attorney General.
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§ 1107. Duties of Attorney General. The Attorney General shall act as the legal representative of the State in all actions or proceedings had under this chapter, and shall render legal assistance to the State Bank Commissioner in executing the provisions hereof.32 Del. Laws, c. 1…
5 Del. C. § 1108. [Reserved.]
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§ 1108. [Reserved.]
5 Del. C. § 1109. State corporation income and other taxes; exemption.
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§ 1109. State corporation income and other taxes; exemption. Notwithstanding Title 30, all banking organizations, trust companies and federal savings banks not headquartered in this State but maintaining branches in this State being taxed in accordance with this chapter, shall be…
5 Del. C. § 1110. Severability.
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§ 1110. Severability. If any provision of this chapter or the application of any section or part thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid …
5 Del. C. § 1111. Period of limitation upon assessments.
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§ 1111. Period of limitation upon assessments. (a) Except as otherwise provided in this section, the amount of tax imposed by this chapter shall be assessed within 3 years after the last day prescribed for filing the return or, if later, the date the return was filed. (b) In the …
5 Del. C. § 1112. Period of limitation on credit or refund.
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§ 1112. Period of limitation on credit or refund. Claim for a credit or refund of an overpayment of any tax imposed by this chapter shall be filed by the taxpayer with the Commissioner not later than 3 years from the last date prescribed for filing the return (including the time …
5 Del. C. § 1113. Secrecy of returns and information; penalty.
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§ 1113. Secrecy of returns and information; penalty. (a) Except in accordance with proper judicial order or as otherwise provided by law, it shall be unlawful for the Commissioner or any person who is an officer or employee in the Office of the Commissioner, or for any other offi…
5 Del. C. § 1114. Abatements.
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§ 1114. Abatements. (a) The Commissioner is authorized to abate the unpaid portion of the assessment of any tax, interest, penalty, additional amount or addition to the tax, or any liability in respect thereof, which is: (1) Excessive in amount; (2) Assessed after the expiration …
5 Del. C. § 1115. Closing agreements.
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§ 1115. Closing agreements. The Commissioner, or any person authorized in writing by the Commissioner, is authorized to enter into an agreement in writing with any person relating to the liability of such person (or of another person for whom such person acts) with respect to any…