HMC-TAX: Headquarters Management Corporation Tax Return (2024)
Delaware · Delaware Division of Revenue · Used for tax years 2024
Form HMC-TAX is Delaware’s 2024 Headquarters Management Corporation Tax Return. It reports income, Delaware adjustments and apportionment, tax liability, payments and credits, and any balance due or overpayment.
Who files this form
Form HMC-TAX is Delaware’s Headquarters Management Corporation Tax Return for tax year 2024. It includes a checkbox for a consolidated return from an affiliated group of headquarters management corporations.
What you'll need
- Attach a completed copy of federal Form 1120.
- Attach the appropriate supporting schedules.
- Attach statements for any entries for other payments, applicable expenses against non-apportionable income, gross income from other sources, or the handicapped accessibility deduction.
- Attach Form CIT-SCH for the NBI entry in Schedule 4A.
How to file
Complete the return and applicable schedules, attach the required supporting documents, and sign the return on page 3. Keep a copy for your records.
Mail the completed form with remittance payable to:
Delaware Division of Revenue
PO Box 2044
Wilmington, DE 19899-2044
If line 21 shows a balance due, the form directs you to pay it in full.
Common mistakes
- Forgetting to attach a completed copy of federal Form 1120.
- Leaving out appropriate supporting schedules.
- Forgetting to sign the return on page 3.
- Failing to keep a copy for your records.
Questions people ask
How is the tax liability calculated?
Multiply Delaware taxable income on line 12 by 0.087, or 8.7%. If the result is less than $5,000, enter $5,000 on line 13.
What if all of the corporation’s net income comes from Delaware?
If the entire net income on line 5 comes from Delaware sources, enter that amount on line 11. Otherwise, complete lines 6 through 10.
Which amount goes on the Delaware taxable income line?
On line 12, enter line 5 or line 11, whichever is less.
Can this form be marked as an amended return?
Yes. The form includes an “Amended Return” checkbox.