Guam Form of Anti-Money Laundering Policy

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Multi-State
Control #:
US-PE-M1AM
Format:
Word; 
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This is a sample private equity company form, an Anti-Money Laundering Policy. Available in Word format.
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  • Preview Form of Anti-Money Laundering Policy
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  • Preview Form of Anti-Money Laundering Policy
  • Preview Form of Anti-Money Laundering Policy
  • Preview Form of Anti-Money Laundering Policy
  • Preview Form of Anti-Money Laundering Policy
  • Preview Form of Anti-Money Laundering Policy

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FAQ

Guam does not use a state withholding form because there is no personal income tax in Guam.

Sales and Use Tax If you sell taxable goods or services to customers, you'll need to register for a GuamTax.com business account and collect Guam's 2% sales tax. However, the following services are exempt from Guam sales tax: Banking and lending services. Foreign currency services.

Bona fide residents of Guam are subject to special U.S. tax rules. In general, all individuals with income from Guam will file only one return?either to Guam or the United States. If you are a bona fide resident of Guam during the entire tax year, file your return with Guam.

Guam will rebate 75% of income taxes for 20 years on income from qualifying Guam businesses. If the business is conducted as an "S" corporation, the rebate is available to shareholders.

Personal and Corporate Income Tax Bona fide residents of Guam are subject to special U.S. tax rules. In general, all individuals with income from Guam will file only one return?either to Guam or the United States. If you are a bona fide resident of Guam during the entire tax year, file your return with Guam.

The Use Tax Law is outlined in Chapter 28 of Title 11 GCA and states that every person who imports into Guam, or acquires in Guam from any other person, any property for his use or consumption shall be subject to 4% Use Tax based on the landed value of such property. This is not applicable to items imported for resale.

More In File An individual who has income from American Samoa, the Commonwealth of the Northern Mariana Islands (CNMI), Guam, Puerto Rico or the U.S. Virgin Islands will usually have to file a tax return with the tax department of one of these territories.

Guam also has a Business Privilege Tax, which is 5% of gross sales.

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Guam Form of Anti-Money Laundering Policy