Puerto Rico Affidavit of Domicile

State:
Multi-State
Control #:
US-02534
Format:
Word
Instant download

Description

This form is an Affidavit of Domicile. This form provides that the affiant upon oath and affirmation of belief and personal knowledge verifies the address of the decedent at the time of death. The form must be signed in the presence of a notary public.
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FAQ

Generally, under IRS §937 and the regulations thereunder, a bona fide resident of Puerto Rico is an individual who: Is physically present in Puerto Rico for at least 183 days during the taxable year; Does not have a tax home outside of Puerto Rico during the taxable year; and.

It should be presumed that an individual is a resident of Puerto Rico if they have been present in Puerto Rico for a period of 183 days during the calendar year.

To qualify as a bona fide resident of Puerto Rico for any tax year, a person must satisfy each of three distinct tests: (1) the ?Presence Test?; (2) the ?Tax Home Test?; and (3) the ?Closer Connection Test?. [4] It is not enough merely to be present in Puerto Rico for 183 days in a given tax year.

Bona Fide Residents of Puerto Rico: Generally, you are a bona fide resident of Puerto Rico if during the tax year, you: Meet the presence test ? Do not have a tax home outside Puerto Rico, and ? Do not have a closer connection to the United States or to a foreign country than to Puerto Rico.

To qualify for the exemptions, you must become a bonafide resident of Puerto Rico. This implies residing on the island for more than 183 days per year, filling out IRS forms, such as form 8898 and applying for a tax exemption decree from the Secretary of Economic Development and Commerce of Puerto Rico.

While the Commonwealth government has its own tax laws, Puerto Rico residents are also required to pay US federal taxes, but most residents do not have to pay the federal personal income tax.

Generally, under IRS §937 and the regulations thereunder, a bona fide resident of Puerto Rico is an individual who: Is physically present in Puerto Rico for at least 183 days during the taxable year; Does not have a tax home outside of Puerto Rico during the taxable year; and.

U.S. citizens who become bona fide residents of Puerto Rico can maintain their U.S. citizenship, avoid U.S. federal income tax on capital gains, including U.S.-source capital gains, and avoid paying any income tax on interest and dividends from Puerto Rican sources.

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Puerto Rico Affidavit of Domicile