FY27 Governor's Recommended Operating Budget - Introduction

… nds) are $2,532.8 million for Fiscal Year 2026 and $2,648.3 million for Fiscal Year 2027. • Franchise Tax and Limited Partnership/ Limited Liability Company Tax - The Franchise Tax is imposed upon domestic corporations incorporated in Delaware and …

… ed on either the outstanding shares of stock of a corporation or on gross assets. In addition, every domestic Limited Partnership and Limited Liability Company forme d in Delaware and every foreign Limited Partnership and Limited Liability Company …

… ition, every domestic Limited Partnership and Limited Liability Company forme d in Delaware and every foreign Limited Partnership and Limited Liability Company registered to do business in Delaware is required to pay an annual tax of $300. DEFAC es …

… ’s Fiscal Year 2027 net General Fund revenue projection. This revenue package includes: • Franchise Tax and Limited Partnership/ Limited Liability Company Tax - Modernizing corporate fees is estimated to yield an additional $81.0 million for Fis …

… th. • $1.0 million for the Bioscience Center for Advanced Technology. The Center fosters academic industry research partnerships to support local bioscience businesses and help Delaware recruit, retain and create science-based jobs. • $2.0 mil …

… cludes Prior Year Unencumbered Cash Balance. ** Includes Corporate Franchise Taxes, Business Entity Fees and Limited Partnerships and Limited Liability Companies. Note: Data is inclusive of proposed revenue package and tax policy changes. * I …

… .0 Business Entity Fees 171.4 171.0 171.0 Bank Franchise Tax 114.8 96.5 105.5 Lottery 230.0 248.4 252.6 Limited Partnerships and Limited Liability Companies 522.1 551.0 557.0 Uniform Commercial Code 32.5 30.0 30.0 Other Revenues 113.8 12 …

… 856.9 $ 6,948.5 ADJUSTMENTS: Corporate Income Tax (10.0) Cigarette Taxes 18.9 Unclaimed Property 60.0 Limited Partnerships and Limited Liability 81.0 149.9 TOTAL $ 7,098.4 The Delaware Economic and Financial Advisory Council (DEFAC) ad …