Facts & Figures 2024: How Does Your State Compare?
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min readHow does Delaware’s tax code compare? Delaware has a graduated state individual income tax, with rates ranging from 2.20 percent to 6.60 percent. There is also a jurisdiction that collects local income taxes. Delaware has an 8.70 percent corporate income tax rate and a state gross receipts tax. Delaware does not have a state sales tax rate. Delaware has a 0.48 percent effective property tax rate on owner-occupied housing value.
Delaware does not have an estate tax or inheritance tax. Delaware has a 23 cents per gallon gas tax rate and a $2.10 cigarette excise tax rate. The State of Delaware collects $6,668 in state and local tax collections per capita. Delaware has $8,417 in state and local debt per capita and has an 88 percent funded ratio of public pension plans. Overall, Delaware’s tax system ranks 21st on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Delaware is no exception. The first step towards understanding Delaware’s tax code is knowing the basics. How does Delaware collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
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SubscribeFacts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min readIn recognition of the fact that there are better and worse ways to raise revenue, our Index focuses on how state tax revenue is raised, not how much. The rankings, therefore, reflect how well states structure their tax systems.
111 min readTax burdens rose across the country as pandemic-era economic changes caused taxable income, activities, and property values to rise faster than net national product. Tax burdens in 2020, 2021, and 2022 are all higher than in any other year since 1978.
24 min readIndividual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections. How do income taxes compare in your state?
8 min readGraduated corporate rates are inequitable—that is, the size of a corporation bears no necessary relation to the income levels of the owners.
7 min readRetail sales taxes are an essential part of most states’ revenue toolkits, responsible for 32 percent of state tax collections and 13 percent of local tax collections (24 percent of combined collections).
9 min readSports stadium subsidies are salient political gimmicks designed to appear as if politicians are providing tangible benefits to taxpayers. The empirical evidence shows repeatedly that stadium subsidies fail to generate new tax revenue and new jobs or attract new businesses.
6 min readRaising the combined US corporate rate to the second highest in the OECD would encourage corporations to depart from the US, reducing economic output and worker wages across the income spectrum.
2 min readMany states regulate and tax legal marijuana sales and consumption, despite the ongoing federal prohibition. Explore the data here.
6 min readHigh property taxes levied not only on land but also on buildings and structures can discourage investment in infrastructure, which businesses would have to pay additional tax on.
3 min readWireless taxes and fees set a new record high in 2024.
23 min readLegal sports betting has grown rapidly since the Supreme Court granted states the ability to establish online sports betting markets in Murphy vs. NCAA in 2018.
3 min readThe latest IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
8 min readWhile many factors influence business location and investment decisions, sales taxes are something within policymakers’ control that can have immediate impacts—especially as a large number of major cities have combined rates of 9 percent or more.
6 min readProperty taxes are the primary tool for financing local governments and generate a significant share of state and local revenues.
6 min readThough gas taxes are intended to serve as user fees and pollution deterrents, they vary widely across states. How does your state’s burden compare?
4 min read