Governor Jack Markell wants to make Delaware more tax friendly for business.
So, he has said that he wants to change the way the corporate tax is calculated.
The Wilmington News Journal reports that the Delaware Democrat wants to move from a formula based on the proportion of employees, property and sales in the First State to one based only on in-state sales.
It’s estimated that the change would cost the state around $8.2 billion in the next fiscal year and would total $47 billion over the next three years.
The proposal got a positive response from state lawmakers.
The News Journal reports that House Majority leader Valerie Longhurst said this would put Delaware “on a level playing field with the surrounding states.”