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) .
Thank you to everyone that volunteered, attended, supported, sponsored, and participated in making this years Separation Day Festival a success. We are honored to have been able to share the day with you and can not wait until June 11th, 2016 when we will bring you a 240th year celebrating Delaware's Independence. Stay up to date with this page and www.SepDayDE.com as information will shortly be updated with vendor registration and the 2016 plans.