Get Pr Form 480.20(u) 2019-2025

Annual Fee: Every Puerto Rico LLC owes a $150 annual fee to the Department of State by April 15 of each year.

Generally, if you are a Puerto Rico bona fide resident, you must file a Puerto Rico tax return. If you are not a bona fide resident of Puerto Rico, you must file both a Puerto Rico tax return and a U.S. tax return. If you are a member of the United States Armed Forces, special tax rules may be applied.

Puerto Rico 5% for surtax net income up to USD 75,000. USD 3,750 plus 15% of surtax net income from USD 75,001 to USD 125,000. USD 11,250 plus 16% of surtax net income from USD 125,001 to USD 175,000. USD 19,250 plus 17% of surtax net income from USD 175,001 to USD 225,000.

Puerto Rico holds a unique position as an unincorporated U.S. territory. Under Internal Revenue Code (IRC) §933, Puerto Rico source income is excluded from U.S. federal tax.

Alternative minimum tax (AMT) Such minimum tax is subject to an 18.5% flat rate, or 23% in the case of taxpayers with gross proceeds of USD 10 million or more. A corporation is not allowed to claim the same deductions it claimed for regular income tax purposes.

A Puerto Rico Limited Liability Company (LLC) has these benefits: 100% foreign ownership, limited liability, one member, one manager, no required minimum share capital, and English is the official second language.

Series 480.6A reports any taxable dividends and/or gross proceeds from realized capital gains or losses in your taxable investment account. This form will also report any interest paid out in your cash account. Series 480.6D reports any tax exempt dividends that were distributed in your taxable investment account.

Puerto Rico Income Tax If your LLC is taxed as a Puerto Rico corporation, you'll need to pay corporate income tax. Puerto Rico's corporate tax rate is 37.5%.