What is Acquisition Indebtedness? So, lets start at the beginning. Mortgage interest is tax deductible. The first type of mortgage interest defined under the tax code is called âacquisition indebtednessâ. As you might expect, this includes the cost of borrowing to acquire your home, but also includes debt incurred to build or substantially improve a residence, as long as the debt is secured by the same residence.
Although Limited Partnerships, Limited Liability Companies and General Partnerships formed in the State of Delaware do not file an Annual Report, they are required to pay an annual tax of $250.00 ($300.00 to be made effective July 1, 2014, beginning tax year 2014) .
The penalty for not filing a completed Annual Report on or before March 1st is $125.00 Interest at 1.5% per month is applied to any unpaid tax balance. What are ongoing Delaware LLC taxes and fees? LLCs in Delaware do not have to file an annual report, but they are required to pay an annual tax of $300. State of Delaware LLC tax payments are due on or before June 1 of each year. The penalty for non-payment or late payment is $200, and interest accrues on both the tax and the penalty at a rate of 1.5% per month.