Delaware Affiliated Finance Company - Business License Application/Renewal

Affiliated Finance Company - Business License Application/Renewal
Form 1268-LA2
LIC-AFF
APPLICATION/RENEWAL FOR AFFILIATED FINANCE
COMPANY BUSINESS LICENSE
Reset

PART A - APPLICANT’S NAME AND ADDRESS
BUSINESS NAME

TAXPAYER ID

CALENDAR YEAR

Print Form

APPLICATION
RENEWAL

ADDRESS

ZIP CODE

DELAWARE ADDRESS IF DIFFERENT

ZIP CODE

PART B - BUSINESS ACTIVITIES OF THE APPLICANT
1.

Is the applicant engaged in the issuing of commercial paper or other debt obligations?

YES

NO

2.

Does the applicant use substantially all of the proceeds from such obligations to
make loans to, or purchase receivables from its affiliated corporations?

YES

NO

3.

Attach statement identifying each affiliated corporation to which loans were made or from which receivables
were purchased.

4.

Did the applicant in the immediately preceding taxable year receive income from
any source other than interest and discount income from its affiliated corporations
totaling more than five percent (5%) of its annual net income?

5.

Attach statement listing the name and address of all persons or entities owning stock interest in the applicant and
indicate the percentage of ownership.

YES

NO

COMPUTATION OF FEE
IF THE CAPITAL BASE IS
0.00 to
100,000,000.00 to
225,000,000.00 to
Over

99,9999,9999.99
224,999,999.99
749,999,999.99
750,000,000.00

THE ANNUAL LICENSE FEE SHALL BE
10,000
15,000
25,000
50,000

TOTAL AMOUNT PAID

The capital base shall be computed from the information shown on the corporation’s certified financial statement
for the year ending December 31 of the immediately preceding calendar year, or in the case of a fiscal year
corporation, as of the end of its fiscal year ending within the immediately preceding calendar year.

A COPY OF SUCH FINANCIAL STATEMENT MUST BE SUBMITTED WITH THIS APPLICATION AND WITH
EACH ANNUAL RENEWAL.
I certify that the foregoing information and attachments hereto are
true, correct and complete to the best of my knowledge and belief:

Applicant’s Signature

DF40320019999V1
Revision: 20200226

Title

Date

Mail completed form with
remittance payable to:
Delaware Division of Revenue
PO Box 2340
Wilmington, DE 19899-2340

LIC-AFF

GENERAL INFORMATION
House Bill 28, approved February 18, 1981 (Vol. 63, Laws of Del., Chapter 2), amended
Title 30 of the Delaware Code by adding a new Part VI (§6301 et seq) to provide for the
licensing and taxation of affiliated finance companies.
Effective May 1, 1981, no corporation may carry on business in the State of Delaware
as an AFFILIATED FINANCE COMPANY unless it has first obtained from the Division of
Revenue a license to conduct such business and has paid a license fee measured by its
Capital Base.
An AFFILIATED FINANCE COMPANY is defined to mean a corporation substantially all
of whose activity within this State is limited to the issuance of commercial paper or other
debt obligations and use of the proceeds to make loans to one or more of its affiliated
corporations or to purchase receivables from one or more of its affiliated corporations.
An
AFFILIATED CORPORATION means two or more corporations, which are members of
a controlled group of corporations as defined in Section 1563 of the Internal Revenue
Code.
All affiliated finance companies taxed under Part VI shall be exempt from any
occupational license taxes imposed by Part III of Title 30 of the Delaware Code. The
license issued shall be valid for one year and must be renewed annually and the license
fee paid on or before April 30 of each year. A copy of a corporation’s certified Financial
Statement for the year ending December 31 of the immediately preceding calendar year,
or in the case of a fiscal year corporation as of the end of its fiscal year ending within the
immediately preceding calendar year, must be submitted with this application and with
each annual renewal.

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