Dear [Name], I hope this find you well. I am writing to provide you with a comprehensive description of Guam and also include an article relating to tax sales on the island. Guam is a U.S. territory located in the western Pacific Ocean and is part of the Mariana Islands chain. It is known for its stunning natural beauty, rich history, and diverse culture. Guam is the largest island in Micronesia and has a total land area of approximately 212 square miles. It has a population of around 170,000 people and is a melting pot of different ethnicities, with a significant influence from the native Chamorro people, Filipino, Korean, Chinese, and Japanese communities. The island offers a range of attractions for tourists, including scenic beaches, coral reefs, and lush tropical forests. Popular destinations include Tumor Bay, known for its pristine white sand beaches and luxury resorts, and Two Lovers Point, which offers breathtaking panoramic views of the Pacific Ocean. Visitors can also explore historical sites such as Fort Questran Señora de la Soledad, a Spanish fort built in the 17th century. Now, turning to the article regarding tax sales in Guam, it is essential to understand the concept and implications of tax sales for property owners. A tax sale is a public auction where delinquent properties, with unpaid real property taxes, are sold to recover the outstanding taxes owed to the government. These sales are usually conducted by the local government or the tax collector's office. When property owners fail to pay their property taxes within the specified timeframe, the government may initiate the process of tax sale. The article explores the reasons behind tax sales, including the importance of revenue collection for the local government and the potential consequences faced by property owners who do not pay their taxes. The article also covers the legal procedures involved in tax sales, including the foreclosure process, notification requirements, and the redemption period during which property owners have an opportunity to redeem their property by paying the delinquent taxes. Furthermore, it outlines the steps potential buyers should take to participate in tax sales and acquire properties at these auctions. It is worth mentioning that there are different types of Guam Sample Letter to Include Article Relating to Tax Sales depending on the audience and specific purpose. Some examples include letters targeting property owners who are delinquent on their taxes, providing them with information about the tax sale process and urging them to settle their outstanding debts. Other letters may be addressed to potential buyers, explaining how to participate in tax sales and the benefits of investing in properties offered at such auctions. In conclusion, Guam is a captivating destination with its natural beauty and cultural diversity. However, it is crucial for property owners to be aware of their obligations and the potential consequences of delinquent taxes. The included article shedding light on tax sales will serve as a valuable resource for both property owners and potential buyers. Thank you and warm regards, [Your Name]
Guam Sample Letter to Include Article Relating to Tax Sales
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The income tax is the major tax in Guam, providing 60 percent of its locally collected tax revenues. These revenues are supplemented by the transfer from the Federal treasury to the Guam treasury of Federal income taxes withheld from U.S. military and civilian personnel stationed in Guam.
In the 1990s Guam enacted a package of financial services development legislation to become a financial tax haven. The Guam resident trust shelter was very popular. It involves a tax rebate from a Guam resident trust, provided half of the rebated taxes are kept on deposit in Guam for five years.
The Sales Tax Rate in Guam stands at 2 percent. In Guam, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate.
Guam corporations are subject to income tax on their income from all sources. Other corporations doing business on Guam incur income tax liabilities to Guam on all Guam source income. Corporations not engaged in business on Guam are liable to a 30% tax on certain types of income from Guam sources.
Guam also has a Business Privilege Tax, which is 5% of gross sales.
However, there is only one taxing authority in the Territory, the Government of Guam. There are no separate municipal, county, school district or improvement district taxes. Other than admissions, use, and hotel occupancy taxes, there is no general sales tax imposed directly on the consumer.
RelatedLastUnitSales Tax Rate2.00percentCorporate Tax Rate21.00percent
Download Table Data CountryCorporate Tax RateBritish Virgin Islands0%Anguilla0%Wallis and Futuna0%Saint Barthelemy0%213 more rows
