United States Virgin Islands Income Tax

Virgin islands treasury rather than the united states treasury.

United states virgin islands income tax. Individual income tax return that is used throughout the united states. The amount of tax you must pay to the virgin islands is figured as follows. Prior to amendment par. Property owners in delinquent payment status are encouraged to bring their property taxes current by contacting the tax collector s office in their respective district to make arrangements for payment or to enter into an installment.

Return after certain adjustments form 8689 allocation of individual income tax to the virgin islands is used for this computation. Virgin islands listing the income you earned in the u s. Virgin islands uses a mirror system of taxation also known as the mirror code meaning that usvi taxpayers pay taxes to the virgin islands bureau of internal revenue bir generally to the same extent as u s. Citizens thus do not have to clear customs when arriving in the u s.

The income tax laws in force in the united states of america and those which may hereafter be enacted shall be held to be likewise in force in the virgin islands of the united states except that the proceeds of such taxes shall be paid into the treasuries of said islands. In the case of an individual who is a bona fide resident of the virgin islands at the close of the taxable year and who on his return of income tax to the virgin islands reports income from all sources and identifies the source of each item shown on such return for purposes of calculating income tax liability to the united states gross income shall not include any amount included in gross income on such return. Taxpayers would under the code to the u s. The major difference is the tax is paid to the u s.

Paying taxes in the u s. They pay taxes to the territory equal to what their federal taxes would be if they lived in a state. If you are a united states nonresident alien that is not a bona fide resident of the u s. Virgin islands but do when traveling to the mainland.

Virgin islands income tax return is prepared using the same form 1040 u s. You must complete this form and attach it to each copy of your return. You must also file a tax return with the united states government reporting all income from the united states on form 1040nr learn how to file form 1040nr. Provided further that notwithstanding any other provision of law the legislature of the virgin islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax.

Agi divided by worldwide agi times total tax on u s. No state or territory tax. You should pay any tax due to the virgin islands when you file your return with the virgin islands bureau of internal revenue. Income tax laws in force in the united states of america and those which may hereafter be enacted shall be held to be likewise in force in the virgin islands of the united states except that proceeds of such taxes shall be paid into the treasuries of said islands consequently the.

4 read as follows. Virgin islands for the entire tax year then you must file a tax return with the u s. Local residents are not subject to us federal income taxes on u s.