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LOL. Funny...nonetheless it's a legit question...if there's a way to prevent $hitting away close to half of my gross business income to the US government and reduce it down to 4% and eliminate capital gains tax on all investment income it's a no brainer...the only caveat is having to live in PR for 183 days out of the year.
She noted that most employers have cited the high cost of energy and the slow permitting process as the main impediments to doing in business in Puerto Rico.
Yep, all of us. Everyone on this board... including our butlers and Ferrari mechanics.
Current residents or Puerto Rico or individuals who have lived in PR for the past 15 years are not eligible for Act 20 or 22.
You have to either be an investor or business moving your operations to Puerto Rico as a bona fide resident via the presence test, tax home test and closer connections test to be eligible for the 4% corporate tax rate and 0% capital gains tax.
You pay no federal income tax but pay 4% of your net business profits to Puerto Rico. You also give an annual 5,000 charitable donation to PR as well.
Residents of Puerto Rico don’t pay US Federal tax on their Puerto Rico sourced income. They pay only Puerto Rico tax on these profits and capital gains. And Puerto Rico is free to charge whatever tax rate they want, which is why Act 20 and Act 22 are possible.
To qualify for Puerto Rico’s Act 20 and 22 tax holidays, you must be a resident of Puerto Rico and spend a minimum of 183 days a year on the island.
now you know why the elite class and corporations in P.R. don't want to be a state. For decades they are making $$$$$ in one of the biggest tax havens in the world.....they control the media, politicians and public opinion in the island.
Residents of Puerto Rico don’t pay US Federal tax on their Puerto Rico sourced income. They pay only Puerto Rico tax on these profits and capital gains. And Puerto Rico is free to charge whatever tax rate they want, which is why Act 20 and Act 22 are possible.
To qualify for Puerto Rico’s Act 20 and 22 tax holidays, you must be a resident of Puerto Rico and spend a minimum of 183 days a year on the island.
now you know why the elite class and corporations in P.R. don't want to be a state. For decades they are making $$$$$ in one of the biggest tax havens in the world.....they control the media, politicians and public opinion in the island.
You can satisfy any 1 of the presence test requirements. You don't need to satisfy them all.
Residents of Puerto Rico don’t pay US Federal tax on their Puerto Rico sourced income. They pay only Puerto Rico tax on these profits and capital gains. And Puerto Rico is free to charge whatever tax rate they want, which is why Act 20 and Act 22 are possible.
To qualify for Puerto Rico’s Act 20 and 22 tax holidays, you must be a resident of Puerto Rico and spend a minimum of 183 days a year on the island.
now you know why the elite class and corporations in P.R. don't want to be a state. For decades they are making $$$$$ in one of the biggest tax havens in the world.....they control the media, politicians and public opinion in the island.
it seems like a relatively intelligent way to exploit the situation to the island's advantage. there are enough restrictions (such as residence and employees) that it isn't as attractive as a tax haven. it seems to be working, developments such as la ciudadela are financed by people who live on the island because of the act. like anything, it exists only so long as it isn't too successful which would **** off uncle sam.
On land, 135 hotels — about 75 percent of the lodging stock — are accepting reservations. By mid-2019, room availability will rise from 11,000 to more than 15,000. Short-term rentals of the Airbnb kind have increased from 7,700 to 8,700...Next year, one of the island’s most anticipated attractions will shake up the Convention District, near Old San Juan. District San Juan will pack an array of entertainment options — urban zip lines, performance venues, hotels, restaurants, bars and a day-night disco — into a five-acre space. Dean described the complex as “L.A. Live! with a Latin feel.”.. Some positive developments did materialize in the aftermath. The bioluminescent bay in Vieques, for one.
“The bay went dark after Maria,” Gevinski said, “but it has never been brighter than right now.”..One example: ferry service to Vieques. Previously, the boat from Fajardo, on the mainland, took 90 minutes. In October, a high-speed catamaran started transporting passengers from the new departure point in Ceiba, trimming an hour off the journey. When the terminal on Mosquito Pier on Vieques opens, the trip will take 15 minutes. At the moment, a one-way ticket costs the same as its pre-hurricane price of $2.
My question is what is life for the "30 somethings" in Puetro Rico and how there lives are. I mean as a whole and not people who are working abroad in the US and elsewhere and not people taking obvious jobs to be filled. That would be a bigger question. Of course the men to women ratio and how that is coming along.
It makes PR look like a sess pool rather then a thriving nation. I am sure there are social needs among the people. By that problems with resolutions to be upheld.
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