This form is a Stock Option and Award Plan. The purpose of the plan is to secure for the stockholders the benefits of the incentive in stock ownership. The transactions are intended to comply with all applicable conditions of Rule 16b-3.
Puerto Rico Stock Option and Award Plan
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FAQ
Traders will go from paying U.S. federal and state income taxes on capital gains to paying zero taxes on capital gains as a bona-fide resident of PR. That's a huge savings! Investment managers charge advisory fees to investors.
You have taxable income or deductible loss when you sell the stock you bought by exercising the option. You generally treat this amount as a capital gain or loss. However, if you don't meet special holding period requirements, you'll have to treat income from the sale as ordinary income.
All capital gains and investment income of a Puerto Rican resident are taxable for Puerto Rican purposes.
Dividend income from sources within Puerto Rico is generally subject to a 15% income tax rate.
Long-term capital gains are subject to a special tax rate of 15%. Short-term capital gains are subject to the regular gradual rates. In the case of long-term capital gains, Puerto Rican non-resident foreign nationals are subject to a flat withholding rate of 25%.
An employee stock option is the right given to you by your employer to buy ("exercise") a certain number of shares of company stock at a pre-set price (the "grant," "strike" or "exercise" price) over a certain period of time (the "exercise period").
Dividends from eligible businesses are exempt from Puerto Rican income tax. To be eligible, a company must commit to having at least one employee when annual projected or actual volume of business is more than $3 million.
Dividend incomeDividends from a corporation that derives 20% or more of its profits from sources within Puerto Rico are taxable in Puerto Rico. However, a dividends-received deduction may apply.
Consequently, while all Puerto Rico residents pay federal taxes, many residents are not required to pay federal income taxes. Aside from income tax, U.S. federal taxes include customs taxes, federal commodity taxes, and federal payroll taxes (Social Security, Medicare, and Unemployment taxes).
With a stock award, you receive the company's stocks as compensation. Depending on the type of stock, you may have to wait for a certain period before you can fully own it. A stock option, on the other hand, only gives you the right to buy the company's stocks in the future at a certain price.
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