Looking for a Delaware Tax Forms And Templates? Download it for free!

Form 2OOC, for qualifying non-resident sh’areholders of an 5” Corporation may be filed in lieu of individual non-

FILING REQUIREMENTS FOR SHORT PERIOD RETURNS

Section 1901 of Tile 30 provides that the “income year” of a corporate taxpayer shall be the taxable year for

which a taxpayer computes its net income for purposes of the Federal Income Tax.

W h e n a s h o r t p e r i o d F e d e r a l

return is due, a short period Delaware return is also required.

House Bill No. 257, signed July 23, 1997, eliminates

the requirement for the 5” corporation to file and remit tentative tax when the corporation’s taxable period is less

t h a n 9 2 c a l e n d a r d a y s .

For short period returns greater than the 92 days, the due dates are the same as full year

t a x a b l e r e t u r n s .

A final return for a short year period is due on the first day of the fourth month after the endof the

taxable preacquisition

and postacquisition periods.

NET OPERATING LOSS DEDUCTIONS

Net operating loss deductions may be carried forward on the personal tax returns of non-residents commencing

in tax year 1992 where such losses derive from “s” corporations, including losses incurred in tax periods

beginning preJanuary 1, 1992. Since the starting point for Delaware income tax purposes is federal adjusted

gross income, there is no operating loss carryover allowable on the Delaware return that does not derive from

a carryover on the federal return for the same year.

COMPOSITE DELAWARE PERSONAL INCOME TAX RETURN

Commencing with tax years ending on or after December 31,1993, a Composite Personal Income Tax Return,

resident personal income tax returns if all of the following conditions are met:

Non-resident shareholders included in the composite return must be non-residents of the State of Delaware

for the full taxable year.

2 .

Non-resident shareholders included in the composite return must have no income (including spouse’s) from

sources within the State of Delaware other than his or her distributive share from the “S” Corporation.

3 .

All non-resident shareholders included in the composite return must have the same tax year ending for

i n c o m e t a x p u r p o s e s .

BUSINESS TAX INTERNET PROGRAM

We are presently developing an on-line program which will allow business taxpayers to file and pay their Withholding,

Gross Receipts and excise tax, Corporate tentative and “s” Corporation personal income tax estimated returns. Some

of the benefits of this program are: eliminating our processing errors, eliminating your paper work and ensuring timeliness

of payments. If you want more information about this program, or if you want to sign up, contact our Business Tax Internet

Department at (302) 577-8230 or E-mail David Sullivan at dasullivan@state.de.us.

You may also find more information

concerning our office locations, telephone numbers, business and personal tax forms, Technical Information Memorandums

and links to other important sites by visiting our internet address:

Form 1100-P - Instructions For Personal Income Tax Payments By "S" Corporations - State Of Delaware Page 4