Get IRS 8689 2014

File your original Form 1040 with the United States and file a signed copy of the U.S. return (including all attachments, forms, and schedules) with the Virgin Islands Bureau of Internal Revenue by the due date for filing Form 1040. Use Form 8689 to figure the amount of tax you must pay to the USVI.

But in the U.S. Virgin Islands, the average rate is just 3.37 percent.

Government House: USVI is Not a Tax Haven. ... As the U.S. Treasury Department has stated, there is no evidence that the U.S. Virgin Islands has been used to evade or avoid any taxes imposed by European Union Member States.

USVI Income Taxes. Generally, instead of filing returns and paying taxes to the IRS, residents of the USVI, and corporations[3] formed in the USVI, file returns and pay income taxes directly the Virgin Islands Bureau of Internal Revenue[13].

American citizens can freely travel and work in the U.S.V.I. ... The same federal immigration regulations that exist in the US mainland are in use in the Virgin Islands. For more information visit: Bureau of Citizenship and Immigration Services.

The US Virgin Islands are a little known tax haven for all. We have no state, county, or city taxes, no sales tax and extremely low property taxes ( $377 per $100,000 of value for homes and condominiums). Our only taxes are paid on IRS Forms, to the local government, know as "mirror image" taxation.

Taxes in the Virgin Islands. Taxes imposed on residents of the Virgin Islands include: Federal Income Tax (same as US mainland) ... Employers are required to remove social security, Medicare and income tax from employee pay.

US Virgin Islands taxes are low Property: Property taxes are imposed at 1.25% of the property's assessed value. The assessed value of the property is generally 60% property's fair market value. ... For all other taxpayers, capital gains are taxed at a flat rate of 20%.

There are no restrictions on foreign property ownership. Owning a property in the US Virgin Islands is "fee simple".

Taxes in the Virgin Islands. Taxes imposed on residents of the Virgin Islands include: Federal Income Tax (same as US mainland) ... Employers are required to remove social security, Medicare and income tax from employee pay.

But in the U.S. Virgin Islands, the average rate is just 3.37 percent.

USVI Income Taxes. Generally, instead of filing returns and paying taxes to the IRS, residents of the USVI, and corporations[3] formed in the USVI, file returns and pay income taxes directly the Virgin Islands Bureau of Internal Revenue[13]. ... This is done on IRS form 8689.

The US Virgin Islands currently imposes a real property tax at 1.25% of the property´s assessed value. The property´s assessed value is 60% of its actual value or fair market value. Thus, the effective tax rate is 0.0075% of the property´s fair market value.

People of these territories (except some in American Samoa) are U.S. citizens, pay federal taxes such as Social Security and Medicare but not federal income tax and can freely travel within the U.S. ... Unlike states, the territories do not have a vote in Congress.

Puerto Rico is a US territory and not a state, so its residents don't pay federal income tax unless they work for the US government. Even so, workers there pay the majority of federal taxes that Americans on the mainland pay payroll taxes, social security taxes, business taxes, gift taxes, estate taxes and so on.