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Do you pay taxes in St Thomas Virgin Islands?

INDIVIDUAL INCOME TAX Individuals who are bona fide residents of the Virgin Islands file Form 1040 with the Virgin Islands and pay tax on their worldwide income to the Virgin Islands.

Is US Virgin Islands part of the US for tax purposes?

With respect to an individual to whom section 932(a) applies for a taxable year, for purposes of taxes imposed by Chapter 1 of the Internal Revenue Code (Code), the United States generally will be treated, in a geographical and governmental sense, as including the Virgin Islands.

Where do I send my USVI tax return?

File a signed copy of your tax return (with all attachments, forms, and schedules, including Form 8689) with the Virgin Islands Bureau of Internal Revenue, 6115 Estate Smith Bay, Suite 225, St. Thomas, VI 00802.

What is the hotel tax in the US Virgin Islands?

The U.S. Virgin Islands Hotel Room Tax: 12.5% of the listing price for reservations 89 nights and shorter in the U.S. Virgin Islands. For detailed information, visit the U.S. Virgin Islands Bureau of Internal Revenue website.

Is there sales tax in US Virgin Islands?

There is no sales tax in the USVI; however, there is a tax of 4% levied on the gross receipts of all businesses. Businesses with annual gross revenues under $150,000 per year can exclude $5,000 per month from their taxable base.

Do you need to file taxes in Virgin Islands?

Individuals who are bona fide residents of the Virgin Islands file Form 1040 with the Virgin Islands and pay tax on their worldwide income to the Virgin Islands.

What are tax rates at US Virgin Islands?

A USVI corporation pays an effective tax rate of approximately 23.1% on its eligible income, and with the 90% tax credit the effective rate is 2.31% (salaries and other forms of compensation such as guaranteed payments are fully taxable).

What is the personal income tax rate in the US Virgin Islands?

US Virgin Islands does not use a state withholding form because there is no personal income tax in US Virgin Islands.

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