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Delaware Free Printable Computation Schedule For Claiming License Tax Reduction For Approved New Business Facility Gross Receipts - Form 402LTR 9901 for 2020 Delaware Gross Receipts - License Tax Reduction for New Businesses - Computation Schedule

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Gross Receipts - License Tax Reduction for New Businesses - Computation Schedule
Computation Schedule For Claiming License Tax Reduction For Approved New Business Facility Gross Receipts - Form 402LTR 9901

STATE OF DELAWARE DIVISION OF REVENUE FORM 402LTR 9901 Reset COMPUTATION SCHEDULE FOR CLAIMING LICENSE TAX REDUCTION FOR APPROVED NEW BUSINESS FACILITY GROSS RECEIPTS Print Form THIS COMPUTATION SCHEDULE MUST BE COMPLETED AND SUBMITTED WITH EACH MONTHLY AND/OR QUARTERLY LICENSE TAX RETURN FOR WHICH A TAX REDUCTION IS CLAIMED. PART A -- NAME AND ADDRESS 1. Federal Employer Identification Number TAX PERIOD ENDING DATE ( MM / DD / YY) 1 --- ______ / _______ /_______ 2. Name of Taxpayer 3. Address 4. Location of qualifying business facility (if different from above). 5. Date Operations Commenced Targeted Area Number PART B -- BUSINESS ACTIVITIES --- Check the appropriate qualifying activity(s) [ ] Aviation Mai ntenance & Repair Services [ ] Telecommunications [ ] Computer Software Sales (Wholesale Only) [ ] Wholesaling [ ] Consumer Credit Reporting/Collection Services [ ] Management & Support Services for Activities listed [ ] Data Processing or Data Preparation [ ] Combination of Activitieslisted [ ] Engineering [ ] Occupational Licenses -- Targeted Areas Only [ ] Manufacturing [ ] Retailing -- Targeted Areas Only [ ] Other ________________ -- Brownfield Areas Only [ ] Other ________________ -- Green Industries Only PART C - COMPUTATION OF NEW BUSINESS FACILITY CREDIT 1. Total GrossReceiptsfor thisFacility 2. Less Applicabl e Exclusion 3. Taxable GrossReceiptsfor thisFacility 4. Tax Rate (See Instructionson Back) 5. Tax before New Business Fac ility Tax Reduction (Multiply Line 3 by Line 4) 6. Amount of Gross Receipts Attributable to New Business Facility 7. Percent of New BusinessFacility Receiptsto Total Receipts (Line 6 divided by Line 1) 8. 9. 10. Number of monthselapsed Enter Percentage of Tax Reduction (From Chart Below) New Business Facility Tax Credit (Multiply Lines 5, 7 and 9) Place the amount from Line 10 on the "Approved Tax Credit" Line of the Gross Receipts Tax coupon. Number of Wh ole Months Percentage Elapsed Since Operations Commenced 1 through 12 months 13 through 24 months 25 through 36 months 37 through 48 months 49 through 60 months 61 through 72 months 73 through 84 months 85 through 96 months 97 through 108 months 109 through 120 months Over 120 months (Revised 01/14/13) % % $ ________________ FOR TARGETED AREAS ONLY Number of Whole Months Percentage of Tax Reduction 90% 80% 70% 60% 50% 40% 30% 20% 10% 5% 0% $ $ $ x $ $ 1 61 73 85 97 109 121 133 145 157 169 Elapsed Since Operations Commenced through 60 months through 72 months through 84 months through 96 months through 108 months through 120 months through 132 months through 144 months through 156 months through 168 months through 180 months Over 180 months of Tax Reduction 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 5% 0% *DF41513019999* GENERAL 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 Quarterly Exclusion = Monthly or Quarterly Exclusion X Gross Receipts from New or 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 Exclusion = Monthly Exclusion $1,000,000 Apportioned Monthly exclusion $1,000,000 402LTR9901. X Gross receipts from New Facility $500,000 Total Manufacturing Receipts $1,500,000 X 33.33% = $333,300. Enter this amount on Line 2 Form SPECIFIC INSTRUCTIONS Line 1 Line 2 Line 3 Line 4 Line 5 Line 6 Line 7 Line 8 Line 9 Line 10 Enter on Line 1 the total Delaware Gross Receipts for this facility. (Separate forms are required if the business has more than one license.) 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. Subtract Line 2 from Line 1. Enter on Line 4 the Tax Rate: Manufacturers .00144 Wholesalers .00307 Retailers .00576 Occupational Licenses .00307 Multiply Line 3 Times Line 4. Amount of Gross Receipts on Line 1 generated by new or expanded facility. The Percentage of Receipts on Line 1 generated by new or expanded facility. (Line 6 divided by Line 1) Number of Months since new or expanded facility was placed in service. 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.) 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.
Extracted from PDF file 2017-delaware-form-402ltr-9901.pdf, last modified October 2001

More about the Delaware Form 402LTR 9901 Corporate Income Tax

We last updated the Gross Receipts - License Tax Reduction for New Businesses - Computation Schedule in January 2018, and the latest form we have available is for tax year 2017. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Delaware Division of Revenue. You can print other Delaware tax forms here.


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Other Delaware Corporate Income Tax Forms:

TaxFormFinder has an additional 64 Delaware income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 402LTR 9901 Gross Receipts - License Tax Reduction for New Businesses - Computation Schedule
Form 329 Special Tax Computation for Distribution from Qualified Retirement Plan
Form 5403 Real Estate Tax Return - Declaration of Estimated Income Tax
Form 1100-EXT (2014) Corporation Income Tax - Request For Extension
Form 800 Business Income of Non-Resident

Download all DE tax forms View all 65 Delaware Income Tax Forms


Form Sources:

Delaware usually releases forms for the current tax year between January and April. We last updated Delaware Form 402LTR 9901 from the Division of Revenue in January 2018.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Delaware Form 402LTR 9901

We have a total of four past-year versions of Form 402LTR 9901 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2017 Form 402LTR 9901

Computation Schedule For Claiming License Tax Reduction For Approved New Business Facility Gross Receipts - Form 402LTR 9901

2016 Form 402LTR 9901

Computation Schedule For Claiming License Tax Reduction For Approved New Business Facility Gross Receipts - Form 402LTR 9901

2015 Form 402LTR 9901

Computation Schedule For Claiming License Tax Reduction For Approved New Business Facility Gross Receipts - Form 402LTR 9901

Gross Receipts - License Tax Reduction for New Businesses - Computation Schedule 2014 Form 402LTR 9901

Computation Schedule For Claiming License Tax Reduction For Approved New Business Facility Gross Receipts - Form 402LTR 9901


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