First State Times

Delaware legislators have introduced House Bill 13, aiming to establish two new tax brackets for individual income. The proposed changes would impact earnings above $125,000, introducing a tax rate of 6.75% for incomes exceeding $125,000 but not surpassing $250,000. For incomes above $250,000, the rate would be set at 6.95%.

This legislation is particularly relevant for pass-through businesses that file taxes as individuals. Advocates are encouraging business owners to share their experiences with lawmakers in Dover, emphasizing the need for policies that stimulate the small business economy rather than increasing taxes on Main Street.