(a) As used in this chapter: “V.I. foreign sales corporation” and “VIFSC” have the same meanings as those contained under chapter 12 of this title. (b) For the purposes of this chapter only, a foreign corporation shall be deemed to be doing business in the United States Virgin Islands if it maintains an office in […]
(a) Every corporation incorporated under the laws of the United States Virgin Islands and every foreign corporation qualified to do or doing business in the United States Virgin Islands shall pay to the Lieutenant Governor for the use of the Government of the United States Virgin Islands, a franchise tax of $1.50 for each thousand […]
Every corporation failing to pay the annual franchise tax as prescribed by sections 531, 531a, 531b, and 531c of this title, shall, in addition to the tax, be liable for a penalty of 20 percent (20%) of the tax or $50, whichever is greater and interest at 1 percent compounded annually for each month or […]
(a) No corporation may commence or maintain any action in any court if it has not paid its annual franchise tax last due. A certificate of the payment of such annual franchise tax, or any duplicate of such certificate under the seal of the Lieutenant Governor, shall be prima facie evidence of such payment. The […]
The Commissioner of Finance may institute an action in the name of the government of the United States Virgin Islands to enforce the payment of any franchise tax under the provisions of sections 531, 531a, 531b, and 531c of this title, and any penalty and interest due under the provisions of section 532 of this […]
This chapter shall not apply to banks, foreign banks which have branches established in the United States Virgin Islands, and national banking associations, as those institutions are defined by section 1 of Title 9, and to domestic corporations organized for religious, fraternal, scientific, benevolent, social, charitable, or educational purposes, or to foreign corporations organized for […]
