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Delaware Free Printable 5403_2.pmd for 2024 Delaware Real Estate Tax Return - Declaration of Estimated Income Tax

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Real Estate Tax Return - Declaration of Estimated Income Tax
5403_2.pmd

Reset REAL ESTATE TAX RETURN DECLARATION OF ESTIMATED INCOME TAX 1. Delaware Division of Revenue DO NOT WRITE OR STAPLE IN THIS AREA FORM 5403 820 N. French Street, P.O. Box 8763 Wilmington, DE 19899-8763 Form 5403 must be completed for all conveyances, and must be presented at the time of recording. Description and address of property transferred (include property tax parcel number): Tax Parcel Number: 2. County: New Castle Transferor/Seller is: 3. Kent Sussex Date of Transfer: Transferor or Seller acquired property by: Purchase Individual or Revocable Living Trust Corporation Trust or Estate Business Trust Partnership S Corporation Limited Liability Company Other: 4. Print Form Gift Inheritance 1031 Exchange Foreclosure/Repossession Other: Transferor/Seller’s name; SSN or EIN; and address to which correspondence is to be mailed after settlement. (Enter only one name and SSN or EIN per return. If more than one transferor/ seller, use separate forms for each; however, if Transferors/Sellers are spouses, enter only the primary taxpayer an ownership interest in any such non-individual transferor/seller.) Enter Social Security Number Name of Transferor/Seller Address City 5. State ZIP Code If applicable, check appropriate box. (Check no more than one box.) Transferor/seller is a resident (a) individual, (b) pass-through entity or (c) corporation, and not subject to withholding under 30 Del. C §§1126, 1606 or 1909; *DF24018019999* Sale or exchange exempt from capital gain recognition; Gain realized excluded from income for tax year of sale or exchange. DF24018019999 Sale exempt due to foreclosure. (See Instructions) If any box in Section 5 is checked, DO NOT complete Sections 6, 7 and 8 below. No payment is due at this time. 6. Computation of payment and tax to be withheld. (See instructions.) 6.a Total sales price 6.b Less selling expenses /reductions to sale price 6.c Net sales price (Subtract line 6.b from line 6.a) 6.a $ 6.b $ 6.c $ 6.d Adjusted basis of property or liens paid at settlement 6.e Total gain (Subtract line 6.d from line 6.c) 6.d $ 6.e $ 6.f Delaware estimated income tax due - multiply line 6.e by 8.7% for C corp., and by 6.6% for all others NOTE: 7. 8. 6.f $ . Check this box if the transferor/seller is reporting gain under the installment method. No tax is payable at this time. Note: If completing this section, when you recognize any capital gain arising from the sale of property in the State of Delaware, you must report and remit the tax due to the State of Delaware on that transaction. Delaware estimated income t ax paid (See instructions). $ Under penalty of perjury, I declare that I have examined this return and to the best of my knowledge and belief, it is true, correct and complete. If prepared by a person other than the transferor/seller, the declaration is based on all information of which the preparer has any knowledge. Transferor/Seller, Please sign and print full name and title (if any): Signature (Revised 11/2018) Name Title Delaware Form 5403 Real Estate Tax Return Declaration of Estimated Income Tax Instructions Every non-resident individual, pass through entity or corporation who makes, executes, delivers, accepts, or presents for recording any document, except those exemptions defined or described in Sections 1126, 1606 and 1909 of Title 30, or in whose behalf any document is made, executed, delivered, accepted or presented for recording, shall be subject to pay for and in respect to the transaction or any part thereof, an estimated tax payment at a rate of 8.7% for C Corporations and 6.6% for all other entities of the value of the gain on the property sold as represented by such document, which tax shall be payable at the time of making, execution, delivery, acceptance or presenting of such document for recording. Said tax is to be paid by the Transferor(s)/Seller(s). SPECIFIC INSTRUCTIONS Line 1. Enter a description and address of the property transferred/sold, including the tax parcel number and date of transfer. If you need to describe transfer issues please do so here. Line 2. Check the appropriate box to indicate whether the Transferor/Seller is an Individual or Revocable Living Trust, a Corporation, Trust or Estate, Business Trust, Partnership, S corporation, Limited Liability Company, or other, such as a Government Agency or Non-Profit corporation. Line 3. Check the appropriate box to indicate how the transferor/ seller acquired the property. Line 4. Enter the Transferor/Seller’s name; SSN or EIN; and address to which correspondence is to be mailed after settlement. (Enter only one name and SSN or EIN per return. If more than one transferor/ seller, use separate forms for each; however, if Transferors/Sellers are husband and wife, enter only the primary taxpayer name and SSN, and only file one return. If transferor/seller is not an individual, list only EIN of non-individual transferor/seller and file only one Form 5403 for such transferor/seller – no Form 5403 should be filed for the members, partners, stockholders, trustees or other individuals or entities having an ownership interest in any such non-individual transferor/seller.) Line 5. Check the appropriate box to indicate if the transferor(s)/seller(s) are resident individuals, pass-through entities or corporations that are not subject to net gain withholding; the sale or exchange is exempt from capital gain recognition because of either Federal or Delaware exemption; the gain realized will be excluded from income for tax year of sale; or the sale is exempt due to foreclosure pursuant to 30 Del. C. § 1126(b)(3a)(3). If any of the above boxes in Section 5 are checked, stop here, do not complete Sections 6, 7 and 8 below, and no payment is due at this time. Be sure to only check one box. Line 6. On line 6.a enter the Total sales price. On line 6.b enter the Selling expenses/reductions to sale price. On line 6.c enter the Net sales price by subtracting line 6.b from line 6.a. On line 6.d enter the Adjusted basis. Adjusted basis includes the original purchase price of the property, non-deductible closing costs, and the cost of improvements, reduced by any depreciation previously taken for tax purposes. On line 6.e enter the Total gain by subtracting line 6.d from line 6.c. This is the transferor’s/seller’s gain for purposes of computing your estimated payment for Delaware income tax purposes. On line 6.f enter the Delaware estimated income tax due by multiplying the amount on line 6.e by 8.7% if the taxpayer is a C corporation, and by 6.6% for all other taxpayers. Line 7. If the transferor(s)/seller(s) is/are reporting gain under the installment method no payment is due at this time, but by law you must report and remit any capital gain tax to the State of Delaware when any capital gain as a result of the sale of property in Delaware is recognized for Federal tax purposes. Line 8. Enter the amount of Delaware estimated income tax due from Line 6.f, unless you completed Section 7. This is the amount of estimated tax payment due to the Delaware Division of Revenue that you must remit with this form unless line 7 is completed. The Transferor/Seller must sign Form 5403, print their full name and title, if any. This form and the estimated income tax, if any, reported due and payable on this form must be remitted with the deed to the Recorder’s Office before the Recorder shall record a deed conveying title in Delaware real estate. The tax returns or reports and the amounts of tax collected pursuant to Title 30 of the Delaware Code, Sections 1126, 1606 or 1909, and the Recorder’s Office and its employees or agents, shall be subject to the secrecy provisions and penalties of Title 30 of the Delaware Code, Section 368. If you need assistance with filling out this form please contact the Division of Revenue at (302) 577-8200. (Revised 11/2018)
Extracted from PDF file 2023-delaware-form-5403.pdf, last modified December 2010

More about the Delaware Form 5403 Corporate Income Tax Estimated TY 2023

We last updated the Real Estate Tax Return - Declaration of Estimated Income Tax in April 2023, so this is the latest version of Form 5403, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 5403 directly from TaxFormFinder. 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 700 Delaware Income Tax Credit Schedule
Form 1100 Corporate Income Tax Return
Form 5403 Real Estate Tax Return - Declaration of Estimated Income Tax
Form 1100S S Corporation Reconciliation And Shareholders Return
Form 300 Delaware Partnership Return

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 5403 from the Division of Revenue in April 2023.

Show Sources >

Form 5403 is a Delaware Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.

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 5403

We have a total of nine past-year versions of Form 5403 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form 5403

5403_2.pmd

2019 Form 5403

TY18_5403_GL_20181126_4.12pm

2017 Form 5403

5403_2.pmd

Real Estate Tax Return - Declaration of Estimated Income Tax 2013 Form 5403

TY13_5403_1

PDF Form Pack generated by formuPack 2012 Form 5403

PDF Form Pack

2011 Form 5403

5403_2.pmd


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