Individual Income Tax
Form 200-01-X Resident Amended Delaware Personal Income Tax Return
Form 200-02-X Non-Resident Amended Delaware Personal Income Tax Return
Corporate Income Tax
Form 1100 Corporation Income Tax Return
Form 1100EZ Corporation Income Tax Return
Form 1100X Amended Delaware Corporation Income Tax Return
Delaware Tax Forms: Everything You Need to Know
Tax season can be a confusing and daunting time for many individuals, especially when it comes to filling out state tax forms. For Delaware residents, there are several tax forms that need to be completed correctly to avoid penalties and ensure that you get the most out of your tax return. In this article, we will dive into the different types of Delaware tax forms, who needs them, and tips for making the process easier.
Types of Delaware Tax Forms
There are several types of Delaware tax forms that individuals may need to complete. Here is a rundown of the most commonly used forms:
Delaware Individual Resident Income Tax Return (Form 200)
Form 200 is the most commonly used form for Delaware residents. It is used to report income, deductions, and credits for both state and local taxes. The form must be completed and filed by April 30th each year.
Delaware Non-Resident Employee Withholding Tax Return (Form W-2)
Form W-2 is used by non-resident employees who work in Delaware but do not live in the state. You’ll need to provide your employer with this form to make sure they withhold the correct amount of Delaware income tax from your wages. This form must be completed and filed by January 31st each year.
Delaware Non-Resident Individual Income Tax Return (Form 200-02)
If you live outside of Delaware but earn income in the state, you will need to file Form 200-02. This form will help you report and pay any taxes owed to the state of Delaware.
Delaware Fiduciary Income Tax Return (Form 400)
Form 400 is used by individuals who are responsible for the assets of a deceased person or estate. This form is used to report any income earned by the estate and to calculate any tax owed.
Delaware Partnership Return of Income (Form 300)
This form is used by partnerships that are doing business in Delaware. It is used to report income, expenses, and deductions for the partnership.
Delaware S Corporation Reconciliation of Income (Form 300S)
This form is used by S corporations that are doing business in Delaware. It is used to report income, expenses, and deductions for the corporation.
Delaware Corporation Income Tax Return (Form 1100)
Form 1100 is used by corporations that are doing business in Delaware. It is used to report income, expenses, and deductions for the corporation.
Who Needs to File Delaware Tax Forms?
Not everyone needs to file Delaware tax forms. Here is a breakdown of who needs to file and what forms they will need to complete:
Residents of Delaware: If you are a resident of Delaware and earn income, you will need to file Form 200 by April 30th each year.
Non-residents who work in Delaware: If you work in Delaware but do not reside in the state, you will need to file Form W-2 by January 31st each year.
Non-residents who earn income in Delaware: If you earn income in Delaware but do not reside in the state, you will need to file Form 200-02 by April 30th each year.
Executors of estates: If you are responsible for an estate or the assets of a deceased person, you will need to file Form 400.
Partnerships: If you are a partner in a business that is doing business in Delaware, you will need to file Form 300.
S Corporations: If you are an owner of an S corporation that is doing business in Delaware, you will need to file Form 300S.
Corporations: If you are an owner of a corporation that is doing business in Delaware, you will need to file Form 1100.
Tips for Filling Out Delaware Tax Forms
Filling out tax forms can be daunting, but with a few tips, it may feel less overwhelming. Here are some things to keep in mind when filling out Delaware tax forms:
Gather all necessary documents: Before you start filling out your tax form, make sure you have all the necessary documents, such as your W-2 and any 1099 forms. Double-check that the information on these forms is accurate before you start filling out your tax form.
Use the correct form: Make sure you are using the correct form for your situation. If you are unsure, check the Delaware Division of Revenue website, or consult with a tax professional.
Double-check for accuracy: Review your completed tax form to ensure accuracy. While filling out a tax form, it’s common to make minor mistakes that can end up as errors on your return. Check that your mathematics are correct, your Social Security number is accurate, and that all information is entered in the correct boxes.
Use e-filing: Electronic filing is convenient and efficient. The Delaware Division of Revenue offers free electronic filing through their website. It’s faster and more accurate than mailing a paper return.
Review refund options: The Delaware Division of Revenue offers several refund options. One option is direct deposit, which can save time and offers an added layer of security against fraudulent tax returns. Other options include requesting a paper check mailed to your home.
Key Changes to Delaware Tax Forms
It’s essential to stay current on any changes to Delaware tax forms. Here are a few updates:
Standard Deduction: The standard deduction for married couples filing jointly increased from $7,500 to $7,750 in 2022.
New Tax Brackets: For tax year 2021 (the return you’ll file in 2022) Delaware added a new top income tax bracket of 6.6% for those making more than $150,000 per year. The state also added a new lower tax bracket for those making less than $2,000 per year.
Earned Income Tax Credit: In 2022, the Delaware Earned Income Tax Credit (EITC) increased from 20% to 23% of the federal credit.
Conclusion
Filing taxes in Delaware can seem overwhelming, but it doesn’t have to be. By gathering all necessary documents, using the correct form, double-checking for accuracy, and using e-filing, you can make the process easier. As always, stay informed of any changes to Delaware tax forms that may affect you. By being diligent and taking the proper steps, you can file your Delaware taxes with confidence.
