Delaware Code (Titles 8, 9, 25, 30)

30 Del. C. § 1633

Tax not applicable

The following persons shall not be subject to tax under Chapter 11 of this title:

# (1)

Associations taxable as corporations. — An association, trust or other unincorporated organization which is taxable as a corporation for federal income tax purposes.

# (2)

Exempt associations, trusts and organizations. — An association, trust or other unincorporated organization which by reason of its purpose or activities is exempt from tax on its income under the laws of the United States or this State.

# (3)

Real estate mortgage investment conduits. — An entity that is a real estate mortgage investment conduit (as defined in § 860D of the Internal Revenue Code of 1986 [26 U.S.C. § 860D], as amended).

# (4)

Designated and qualified settlement funds. — A trust that is a designated or qualified settlement fund (as defined in § 468B of the Internal Revenue Code of 1986 [26 U.S.C. § 468B], as amended, or Treas. Reg. § 1.468B-1 [26 C.F.R. § 1.468B-1]) shall be characterized as a trust for all purposes of this title and shall not be subject to tax under this chapter.

# (5)

Real estate investment trusts. — An entity that is a real estate investment trust, as defined in § 856 of the Internal Revenue Code of 1986 (26 U.S.C. § 856), as amended.

# (6)

Pass-through entities. — An association or other unincorporated organization that is a pass-through entity.

Amendment history

72 Del. Laws, c. 467, § 1

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In this title (40 sections)

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