Delaware Administrative Code
Title 5 - Banking
1100 - Taxation
1113 - Election by a Subsidiary Corporation of a Banking Organization or Trust Company to be Taxed in Accordance with Chapter 19 of Title 30
Section 1113-2.0 - Effect
Universal Citation: 5 DE Admin Code 1113-2.0
Current through Register Vol. 28, No. 3, September 1, 2024
If a valid election is made, the electing subsidiary shall not be considered a subsidiary corporation of its parent banking organization or trust company for the purposes of Chapter 11 of Title 5, and the income of the electing subsidiary shall be excluded from the taxable income of its parent banking organization or trust company for the tax year involved.
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