§ 68-1205. Minimum and maximum taxes.

A.  In determining the amount of tax to be levied, assessed and collected under the terms of this Article, the maximum amount shall not exceed Twenty Thousand Dollars ($20,000.00).

B.  If, as a result of the computation of tax required by Section 1209 of this title, the resulting liability is Two Hundred Fifty Dollars ($250.00) or less, the corporation or other entity shall be exempt from the tax levied by Section 1203 or Section 1204 of this title for such reporting period.

Added by Laws 1963, c. 366, § 2, eff. July 1, 1963.  Renumbered from § 12-1205 of this title by Laws 1965, c. 215, § 2.  Amended by Laws 2005, c. 388, § 1, eff. July 1, 2006; Laws 2007, c. 136, § 1, eff. Jan. 1, 2008.