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The Virgin Islands of the United States come within the definition of "United States" given in section 101(a)(38) Immigration and Nationality Act (INA). A person born there now acquires U.S. citizenship in the same way as one born in any of the 50 States.
The US Congress has granted USVI the authority to allow a lowered tax rate to bona fide residents of the USVI. Any income related to a USVI business is also taxed at a lower rate. Bona fide USVI residents pay taxes to the Virgin Islands Bureau of Internal Revenue (BIR) instead of the IRS.
(a) A tax of 5% is imposed on inheritances which fall to brothers and sisters and their issue, irrespective of their being sole heirs or inheriting jointly with one of their parents, which, for purposes of this section, shall be described as Class II inheritances.
If you have income from one of these U.S. territories, you may have to file a U.S. tax return only, a territory tax return only, or both returns. This generally depends on whether you are considered a bona fide resident of one of the U.S. territories.
US Virgin Islands is not a tax haven or offshore jurisdiction, but USVI companies (or corporations) could be established as "USVI Exempt Companies" with partial or full exemption from local and US federal income taxes.
The average Virgin Islands statute of limitations is around two years for most civil cases. This means that for whatever civil crime is committed, the plaintiff has two years from the date of the crime to talk to a lawyer.
An individual who qualifies as a bona fide resident of the U.S. Virgin Islands (or who files a joint U.S. return with a U.S. citizen or resident with U.S. Virgin Islands income) will generally have no U.S. tax liability so long as the taxpayer reports all income from all sources on the return filed with the U.S. Virgin ...
Nonresident aliens are generally subject to U.S. income tax only on their U.S. source income. They are subject to two different tax rates, one for effectively connected income, and one for fixed or determinable, annual, or periodic (FDAP) income that is non-effectively connected income.