Form 402ltr 9901 - Computation Schedule For Claiming License Tax Reduction For Approved New Business Facility Gross Receipts Page 2
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1
2GENERAL INSTRUCTIONS FOR COMPLETION OF
FORM 402LTR9901
Every business which has been approved to receive the tax incentives for establishing or expanding a new
business facility in Delaware MUST complete FORM 402LTR9901, COMPUTATION SCHEDULE FOR
CLAIMING LICENSE TAX REDUCTION FOR APPROVED NEW BUSINESS FACILITY GROSS RECEIPTS in
order to claim the reduction. A separate form must be completed for each new or expanded business facility for
which a reduction is claimed. Separate forms are also required for each licensable activity conducted at each
facility. When completing multiple Forms 402LTR901 for the same licensable activity, you must apportion the
monthly exclusion for each licensable activity among the separate facilities based on the ratio of gross receipts
for each facility to total gross receipts. Please use the following formula:
Apportioned Monthly or
=
Monthly or Quarterly
X
Gross Receipts from New or
Quarterly Exclusion
Exclusion
Expanded Business Facility
Total Gross Receipts from
Each Licensable activity
The following example illustrates the operation of this formula for a manufacturer. Assume the following facts.
Company A establishes a new manufacturing facility (New Facility) in Delaware which produces $500,000 gross
receipts. The existing facility produces $1,000,000 gross receipts. The exclusion apportioned to the new facility
is calculated as follows:
Apportioned Monthly
=
Monthly Exclusion
X
Gross receipts from New Facility
$500,000
Exclusion
$1,000,000
Total Manufacturing Receipts
$1,500,000
Apportioned Monthly exclusion $1,000,000
X 33.33% = $333,300.
Enter this amount on Line 2 Form
402LTR9901.
SPECIFIC INSTRUCTIONS
Line 1
Enter on Line 1 the total Delaware Gross Receipts for this facility.
(Separate forms are required if the business has more than one license.)
Line 2
Enter Applicable Exclusion for:
Manufacturers
$1,000,000/Mo.
or
$3,000,000/Qtr.
Wholesalers
80,000/Mo.
or
240,000/Qtr.
Retailers
80,000/Mo.
or
240,000/Qtr.
Occupational Licensees
80,000/Mo.
or
240,000/Qtr.
Line 3
Subtract Line 2 from Line 1.
Line 4
Enter on Line 4 the Tax Rate:
Manufacturers
.00144
Wholesalers
.00307
Retailers
.00576
Occupational Licenses
.00307
Line 5
Multiply Line 3 Times Line 4.
Line 6
Amount of Gross Receipts on Line 1 generated by new or expanded facility.
Line 7
The Percentage of Receipts on Line 1 generated by new or expanded facility.
(Line 6 divided by Line 1)
Line 8
Number of Months since new or expanded facility was placed in service.
Line 9
Using the number of months elapsed on Line 8, enter Percentage of Tax Reduction.
(Refer to the applicable Schedule on the front of this form.)
Line 10
Multiply Lines 5, 7 and 9, place this amount on Line 10 and on the "Approved Tax Credit" Line of the
Gross Receipts Tax coupon.
Attach this form to the monthly or quarterly license tax gross receipts coupon. If you need assistance
completing this form, please call the Business Audit Bureau at (302) 577-8455.
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