Legislative Update on 5 Important Bills

Issue 5.17

April 26, 2019

Message from the President

Late last week I attended a meeting that included a representative from the British Embassy, Department for International Trade. We discussed, among other things, the trade relationship between Delaware and the U.K.

Legislative Priority

This week marked the first of the General Assembly’s two-week Easter break. DEFAC met this week and revised its forecast by an additional $42.8 million for this year, and roughly $16 million for FY20. Each of DEFAC’s meetings this year have seen revisions upwards.

May 13, 2019

4:45 p.m. - 7:00 p.m. at Wilmington University

Nonprofit Spotlight: The Leukemia & Lymphoma Society

The Leukemia & Lymphoma Society is the world’s largest voluntary organization dedicated to supporting patients and caregivers living with a blood cancer. The organization focuses on delivering the mission through three pillars: research, patient access and advocacy.

Deciding on the Choice of Business Entity Under TCJA

The cornerstone of P.L. 115-97, known as the Tax Cuts and Jobs Act is the reduction of the maximum corporate tax rate of 35% to a flat 21%. For businesses being conducted as flow-through entities, such as S corporations, partnerships and sole proprietorships, the new law permits a deduction of up to 20% of qualified business income (QBI), effectively reducing the top tax rate paid by the individual owner from 37% to 29.6%.

Bringing Tradition and Innovation Together

The Chemours Company moved into its newly renovated, state-of-the-art global headquarters in the historic DuPont Building in January, renewing its commitment to the City of Wilmington and beginning a new chapter in the young company’s four-year history. The move also marks a new beginning for the 106-year-old DuPont Building, a registered historic landmark which occupies an entire city block in downtown Wilmington.