Business Directory

Taxes

Every business is required to pay taxes. The taxes and fees are based on the type of business and employees.

Business License

Every business is required to apply for a business license at the Virgin Islands Department of Licensing and Consumer Affairs. The fee varies based on the type of license.

Trade Name / Corporation

Businesses with registered trade names, Non-Profits, Limited Liability Companies, Corporations, and Partnerships are required to register with and file an annual registration with the Division of Corporations at the Office of the Lieutenant Governor.

Gross Receipts

Businesses must pay a 5% gross receipts tax for all income. If the business’ annual income is less than $225,000, the business must file and pay by January 30 of the year following. There is a $9000 per month exemption. If the business’ income exceeds $225,000, the business must file and pay monthly within 30 days after the end of the month.

Excise Taxes

Businesses that import products must pay excise taxes with the Virgin Islands Bureau of Internal Revenue.

Employers

Got employees? Great.
Business with employees must file and pay fees depending on the monthly payroll.

  • Unemployment Insurance – Local (Quarterly / Virgin Islands Department of Labor)
  • Unemployment Insurance – Federal (Quarterly or Annually / Internal Revenue Service)
  • Employee Tax - ($25 per employee once a year / Virgin Islands Department of Labor)
  • FICA and Medicare - (Form 941SS quarterly with weekly, monthly, quarterly, or annual deposits depending on payroll / Internal Revenue Service)
  • Withholding - (Form 941VI with monthly or quarterly deposits depending on payroll / VI Bureau of Internal Revenue)

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