Delaware Personal Credits
Delaware offers various personal tax credits to individuals and businesses, designed to support economic development, research, and community initiatives. These credits are claimed using Form PIT-CRS (Delaware Income Tax Credit Schedule) and require approval from the Division of Revenue. Below are key credits available for Delaware taxpayers.
Research and Development Tax Credit
- Available for Delaware qualified research and development expenses.
- Applicable for credits granted on or after January 1, 2027.
- A Division of Revenue approval letter must be attached to the Delaware return.
- Claimed via Form PIT-CRS.
Land and Historic Resource Conservation Credits
- For permanent gifts of land or interest in land to public agencies or qualified private non-profit charitable organizations.
- Requires a Division of Revenue approval letter.
- Claimed via Form PIT-CRS.
Economic Development Credits
- Supports economic development initiatives in Delaware.
- Claimed via Form PIT-CRS.
Historic Preservation Credits
- For projects preserving historic properties.
- Claimed via Form PIT-CRS.
Green Industries or Brownfield Credits
- Supports environmental cleanup and green industry development.
- Claimed via Form PIT-CRS.
Neighborhood Assistance Credits
- For investments in neighborhood revitalization projects.
- Claimed via Form PIT-CRS.
Employer Tax Credit for Hiring Individuals with Disabilities
- Encourages employers to hire individuals with disabilities.
- Claimed via Form PIT-CRS.
Organ and Bone Marrow Transplantation Tax Credit
- Supports individuals undergoing organ or bone marrow transplantation.
- Claimed via Form PIT-CRS.
Source:
Form PIT-CRS
Disclaimer: Always verify details with the official Federal or State Department of Revenue Forms and Instructions.