Global Information Lookup Global Information

Taxation in Puerto Rico information


Taxation in Puerto Rico consists of taxes paid to the United States federal government and taxes paid to the Government of the Commonwealth of Puerto Rico. Payment of taxes to the federal government, both personal and corporate, is done through the federal Internal Revenue Service (IRS), while payment of taxes to the Commonwealth government is done through the Puerto Rico Department of Treasury (Departamento de Hacienda).

Puerto Rico is an unincorporated territory of the United States and Puerto Ricans are U.S. citizens; however, Puerto Rico is not a U.S. state, but a U.S. insular area. Consequently, while all Puerto Rico residents pay federal taxes, many residents are not required to pay federal income taxes. Aside from income tax, U.S. federal taxes include customs taxes,[1] federal commodity taxes, and federal payroll taxes (Social Security, Medicare, and Unemployment taxes).

Not all Puerto Rican employees and corporations pay federal income taxes. Federal law requires payment of federal income tax from the following residents and corporations only: federal government employees in Puerto Rico,[a][b][4] residents who are members of the United States military, those with income sources outside of Puerto Rico, those individuals or corporations who do business with the federal government, and those Puerto Rico-based corporations that intend to send funds to the United States.

  1. ^ The Islands: Puerto Rico Overview. US Government. Department of the Interior. Office of Insular Affairs. Accessed 29 October 2020.
  2. ^ Economy at a Glance: Puerto Rico. Archived 3 May 2018 at the Wayback Machine US Bureau of Labor Statistics. Accessed 10 November 2020.
  3. ^ U.S. Employees in Puerto Rico and Territories Face Huge Pay Gap: Just because they live in a 'non foreign area'. Archived 19 May 2019 at the Wayback Machine Adriana De Jesús Salamán. Noticel. 17 May 2019.
  4. ^ US v. Vaello-Madero, Docket No. 19-1390 (April 10, 2020). Archived 2 November 2020 at the Wayback Machine U.S. Court of Appeals for the First Circuit. Boston, Mass. p.27. fn.17. 10 April 2020.


Cite error: There are <ref group=lower-alpha> tags or {{efn}} templates on this page, but the references will not show without a {{reflist|group=lower-alpha}} template or {{notelist}} template (see the help page).

and 27 Related for: Taxation in Puerto Rico information

Request time (Page generated in 1.2664 seconds.)

Taxation in Puerto Rico

Last Update:

Taxation in Puerto Rico consists of taxes paid to the United States federal government and taxes paid to the Government of the Commonwealth of Puerto...

Word Count : 3880

Currencies of Puerto Rico

Last Update:

The currencies of Puerto Rico closely follow the historic development of Puerto Rico. As a Province of Spain (Autonomous Community) and a territory of...

Word Count : 4827

Puerto Rico

Last Update:

Puerto Rico (Spanish for 'rich port'; abbreviated PR; Taino: Borikén or Borinquen), officially the Commonwealth of Puerto Rico (Spanish: Estado Libre Asociado...

Word Count : 32665

Pharmaceutical industry in Puerto Rico

Last Update:

The pharmaceutical industry in Puerto Rico encompasses more than half of all manufacturing done in Puerto Rico. As the island's most prominent industry...

Word Count : 309

Economy of Puerto Rico

Last Update:

The economy of Puerto Rico is classified as a high income economy by the World Bank and as the most competitive economy in Latin America by the World...

Word Count : 16987

Politics of Puerto Rico

Last Update:

The politics of Puerto Rico take place in the framework of a democratic republic form of government that is under the jurisdiction and sovereignty of...

Word Count : 8053

Tourism in Puerto Rico

Last Update:

Tourism in Puerto Rico attracts millions of visitors each year, with more than 5.1 million passengers arriving at the Luis Muñoz Marín International Airport...

Word Count : 5226

Cannabis in Puerto Rico

Last Update:

in Puerto Rico is illegal for recreational use. Legislation to ban cannabis was passed in 1932, and legislation to legalize medical use was passed in...

Word Count : 587

Political status of Puerto Rico

Last Update:

(Spanish: Estado Libre Asociado de Puerto Rico, lit. 'Free Associated State of Puerto Rico'). As such, the island of Puerto Rico is neither a sovereign nation...

Word Count : 12526

Act 22 of 2012

Last Update:

Puerto Rico (Spanish: Ley para Incentivar el Traslado de Inversionistas a Puerto Rico)— is an act enacted by the 16th Legislative Assembly of Puerto Rico...

Word Count : 960

Governor of Puerto Rico

Last Update:

Puerto Rico (Spanish: gobernador de Puerto Rico) is the head of government of the Commonwealth of Puerto Rico, and commander-in-chief of the Puerto Rico...

Word Count : 1733

Outline of Puerto Rico

Last Update:

Capital of Puerto Rico: San Juan Elections in Puerto Rico Political parties in Puerto Rico Taxation in Puerto Rico Government of Puerto Rico Head of state:...

Word Count : 1600

Agriculture in Puerto Rico

Last Update:

agriculture industry in Puerto Rico constitutes over $800 million or about 0.69% of the island's gross domestic product (GDP) in 2020. Currently the sector...

Word Count : 2118

History of Puerto Rico

Last Update:

history of Puerto Rico began with the settlement of the Ortoiroid people between 430 BC and AD 1000. At the time of Christopher Columbus's arrival in the New...

Word Count : 14750

Real estate in Puerto Rico

Last Update:

of 2012, the real estate industry in Puerto Rico constituted about 14.8% of the gross domestic product of Puerto Rico, about 1% of all of the employee...

Word Count : 1378

Puerto Rico statehood movement

Last Update:

The Puerto Rico statehood movement (Spanish: movimiento estadista de Puerto Rico) aims to make Puerto Rico a state of the United States. Puerto Rico is...

Word Count : 4730

Bonds issued by Puerto Rico

Last Update:

Bonds issued by the government of Puerto Rico and its subdivisions are exempt from federal, state, and local taxes (so called "triple tax exemption")...

Word Count : 487

Puerto Rican Independence Party

Last Update:

The Puerto Rican Independence Party (Spanish: Partido Independentista Puertorriqueño, PIP) is a social-democratic political party in Puerto Rico that campaigns...

Word Count : 3233

Puerto Rico Aqueducts and Sewers Authority

Last Update:

The Puerto Rico Aqueducts and Sewers Authority (PRASA; Spanish: Autoridad de Acueductos y Alcantarillados de Puerto Rico) is a water company and the government-owned...

Word Count : 301

List of countries by tax rates

Last Update:

Archived from the original on 2021-05-06. Retrieved 2021-05-06. "Taxation and Investment in Argentina 2016" (PDF). Deloitte. Archived (PDF) from the original...

Word Count : 5442

History of women in Puerto Rico

Last Update:

what became the culture and customs of Puerto Rico. In the early part of the 19th century the women in Puerto Rico were Spanish subjects and had few individual...

Word Count : 20209

Hurricane Tax Relief Act

Last Update:

United States. For damages claimed in Puerto Rico, the US treasury will pay that equivalent amount to Puerto Rico. Donalds and Scott introduced the bill...

Word Count : 573

Effects of Hurricane Maria in Puerto Rico

Last Update:

September 19-21, 2017, Hurricane Maria devastated the entire island of Puerto Rico and caused a major humanitarian crisis. Originally as a powerful Category...

Word Count : 10555

Puerto Rican citizenship and nationality

Last Update:

Puerto Rico is an island in the Caribbean region in which inhabitants were Spanish nationals from 1508 until the Spanish–American War in 1898, from which...

Word Count : 5432

Manufacturing in Puerto Rico

Last Update:

Manufacturing in Puerto Rico is the largest economic sector in the economy of Puerto Rico; composing almost half (about 46%) of the gross domestic product...

Word Count : 204

Operation Bootstrap

Last Update:

of Puerto Rico into an industrial and developed one. The federal government of the United States together with what is known today as the Puerto Rico Industrial...

Word Count : 2064

CRIM

Last Update:

Municipales (CRIM)— is the revenue service of the municipalities of Puerto Rico. The center notifies, taxes, collects, receives, and distributes public...

Word Count : 211

PDF Search Engine © AllGlobal.net