The Division of Revenue Encourages Delaware Businesses to Renew Your Business License Online Now

The Division of Revenue would like to remind business owners with licenses expiring at the end of December that the most convenient way to renew your business license is by visiting revenue.delaware.gov, and renewing online. Any business whose Delaware business license expires December 31, 2016 may opt to renew online using a credit card, debit card, or via direct debit from your bank account. This convenient online service is available 24 hours a day, seven days a week.

Last year, over 65% of business owners used the online renewal service. Renewing a State of Delaware business license online is not only convenient, but it allows the taxpayer to print a temporary license directly from their computer – a benefit for any business requiring proof of a current license, such as contractors and businesses receiving government payments.

“Renewing a business license online is fast and secure,” says Division of Revenue Director Patrick Carter, “the online business license system is a tool that makes life easier for hundreds of Delaware businesses.”

To complete the online renewal, businesses will need their Tax ID Number and Business License Number. Business License Numbers can be found on your current license, or on the annual License Renewal Notice mailed to businesses by the Delaware Division of Revenue. Business renewing a license may elect a one or a three-year business license, decreasing future paperwork.

For more information on business licenses, please contact the business license department at (302) 577-8778 or BusTax@delaware.gov.


40th Annual Delaware Federal and State Tax Institute

Statewide, DE – This year marks the 40th year in which the Delaware Division of Revenue, in conjunction with the Internal Revenue Service, will bring Delaware tax preparers and professionals together for training through the Annual Federal and State Tax Institute.

Each year the Institute provides certified public accountants, tax preparers, and professionals with the training they need to remain current with tax rules and regulations. The goal of the Institute is to update, clarify, and explain federal and state tax law reporting requirements, as well as provide coverage of any new tax law developments. This year’s presenters include representatives from the IRS, the Delaware Division of Revenue, and the Maryland Revenue Administration Division.

“Our presenters bring years of experience and in-depth knowledge to their presentations, making complex tax issues easier to understand,” said Delaware Division of Revenue Director, Patrick Carter. “Attendees will leave feeling confident with their knowledge for the 2016 tax season.”

The Registration fee for the Tax Institute is $50.00, and includes all course materials, a continental breakfast, and a certificate of completion. Dates and locations are as follows:

  • Mon., December 5, 2016 – Dover Downs Conference Center, Kent
  • Tues., December 6, 2016 – Atlantic Sands Rehoboth Beach, Sussex
  • Fri., December 9, 2016 – University of Delaware Clayton Hall, New Castle

CPE and CE credits will be available with complete attendance; no half or partial credits will be given. For more information, or to register, visit http://revenue.delaware.gov/calendar.shtml; call (302) 577-8681 or email christine.hambleton@delaware.gov; or call (302) 577-8688 or email carol.thomas@delaware.gov.

 

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Leslie A. Poland
Public Information Officer
Delaware Department of Finance
(302) 577-8522
leslie.poland@delaware.gov


Is The State Holding Your Money? Unclaimed Property Owners List To Be Published

In the past three years, Delaware has reunited owners with more than $300 million in unclaimed property. On Friday, October 28, 2016 the Delaware Department of Finance will publish the names and addresses of approximately 169,000 owners of unclaimed property in the Delaware State News and the News Journal. The list will include the names of individuals who have had property reported to the Office of Unclaimed Property within the last year. The publication will provide owners with a variety of ways to recover their property.

Many people find it hard to believe they may have overlooked an investment or savings account, but the thousands of names published annually show that it happens more often than you might think. Unclaimed property can include forgotten bank accounts, un-cashed checks, insurance policy proceeds, stocks, dividends, and utility deposits and refunds. Most of these accounts are considered abandoned, and have been turned over to the state after years of inactivity. If you’re interested in being reunited with your property, visit our fast, safe, and secure website at https://delaware.findyourunclaimedproperty.com to complete your claim.

The agency continues to find new and refined ways to reunite owners with their assets as quickly and securely as possible. These enhanced features allow visitors to submit and check their claims status anywhere, at any time. Since the department unveiled its updated searchable website last year, it has rolled out a succession of improvements that make the process of recovering property more convenient for property owners. Owners who seek to recover property can now file claims using mobile devices and safely and securely upload documentation to claims processing staff.

If you’re interested in reconnecting with your property, “The web claim process is simple, and can be completed in a few minutes,” says State Escheator, David Gregor. “We encourage citizens to visit the website at any time to see if they may be entitled to recover property.”

For more information, please visit https://delaware.findyourunclaimedproperty.com, email escheat.claimquestions@delaware.gov, or call the Office of Unclaimed Property at (855) 505-7520.

 

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Leslie A. Poland
Public Information Officer
Delaware Division of Revenue
(302) 577-8522
leslie.poland@delaware.gov


Revenue Announces Threshold Updates Under The Delaware Competes Act

Statewide, DE – Under the new Delaware Competes Act, the Division of Revenue has announced the first of what will become annual adjustments to filing thresholds for small businesses and employers. These threshold adjustments are intended to recognize small businesses’ unique challenges by simplifying compliance and potentially reducing filing frequencies.

The safe harbor provision for small businesses was enacted in 1984, but because the original qualification thresholds had not been adjusted in recent years, many small businesses no longer qualified. “Updating thresholds throughout Delaware’s tax code will reduce administrative and compliance costs for small businesses and the Division of Revenue alike,” said Department of Finance Deputy Secretary, David Gregor. “It also increases the tax code’s predictability and fairness for small businesses; cutting filing frequencies for roughly 1,000 small business gross receipts taxpayers and 2,000 small business withholding filers.”

As part of its annual notification process, the Division of Revenue will notify businesses and employers regarding their filing responsibilities for the upcoming year. The Delaware Competes Act also mandates that thresholds are subject to an annual inflation adjustment. As a consequence, the thresholds’ future effectiveness will not erode over time, and small businesses will continue to reap the Delaware Competes Act’s benefits for years to come.

New threshold information can be found by visiting the Division of Revenue web site at http://revenue.delaware.gov/services/Business_Tax/Threshold_Update_102016.pdf.

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Leslie A. Poland
Public Information Officer
Delaware Department of Finance
(302) 577-8522
leslie.poland@delaware.gov


Revenue Publishes List of Top Delinquent Taxpayers

Today, Division of Revenue Director Patrick Carter has announced the next posting of Delaware’s top 100 delinquent individual and business taxpayers on the state’s Delinquent Taxpayers website. The website posts the names of people and businesses who owe unpaid taxes to the state for public view.

“Posting these lists puts pressure on those in violation,” said Carter, “Anyone with access to the Internet can view the name, address, and amount of tax owed by some of our most chronic delinquent taxpayers, helping Delaware recoup outstanding balances with minimal expense.” Larger balances are targeted first for publication, and each quarter the next 100 consecutive business tax and 100 consecutive personal unresolved tax balances over $1,000 are posted to the site. Delinquent taxpayers can avoid appearing on the list by paying their balance in full or making payment arrangements.

In order to meet the criteria for having your name posted to the Delaware Delinquent Taxpayers site, individuals and businesses must have already received a judgment for unpaid taxes. They are then notified by mail that their names may be posted online, and given 60 days to respond. Delaware is one of over 20 states and the District of Columbia to publish delinquent taxpayers’ names online.

The names of those who enter into a payment agreement with the Division of Revenue or pay their balance in full are either not published or will be removed from the Delinquent Taxpayers list, depending on when the agreement takes place. Taxpayers who have filed for bankruptcy protection or who have incurred a liability that is being appealed are excluded from the published list until their case has been resolved.

Since its inception in February 2007, the Delinquent Taxpayers webpage has collected in excess of $12.5 million in back taxes from those whose names were published, or who were advised that they qualified to have their names published online.

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Leslie A. Poland
Public Information Officer
Delaware Department of Finance
(302) 577-8522
leslie.poland@delaware.gov