720VI Gross Receipts Monthly Form (5%) - Virgin Islands Internal 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering your Employer Identification Number (EIN) and Social Security Number (SSN) clearly at the top of the form.
3. Select your firm type from the options provided: Sole Proprietor, Partnership, or Corporation. Indicate your accounting method as either Cash or Accrual.
4. In section 1, input your total Gross Receipts for the month. Then, in section 2, subtract any applicable exemptions to calculate Taxable Receipts in section 3.
5. Calculate the Tax Due by multiplying the Taxable Receipts by the tax rate of 5%. Enter this amount in section 4.
6. If applicable, enter any Up Front Gross Receipts Tax Withheld in section 5 and calculate Adjusted Tax Due in section 6 by subtracting line 5 from line 4.
7. Complete sections for Penalty and Interest if payments are late, then calculate Total Amount Due in section 10.
8. Finally, provide your name, title, signature, and date at the bottom of the form before submitting it by the due date.

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