Virgin Islands Additional Terms - Standard License

State:
Multi-State
Control #:
US-ENTREP-0016-1
Format:
Word; 
Rich Text
Instant download

Description

A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor. In exchange, the licensee usually submits to a series of conditions regarding the use of the licensor's property and agrees to conditions set forth. This "Additional Terms" form further lays out conditions and terms for the aggrement.
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FAQ

US social security (FICA) and self-employment taxes are imposed in the US Virgin Islands. Payments are remitted to the US mainland rather than to the Virgin Islands Bureau of Internal Revenue.

U.S. Virgin Islands CPA Requirements Education. Baccalaureate degree is required 120 total semester hours 30 semester hours of accounting 30 semester hours of business. View Other US VI Education Requirements. ... Residency. US citizenship is required. US Virgin Islands residency is required. Age. Minimum age: 21 Years Old.

The British Virgin Islands are a British Overseas territory consisting of four larger islands (Tortola, Anegada, Virgin Gorda, and Jost Van Dyke), while the U.S. Virgin Islands are a territory of the United States consisting of three larger islands (St. Croix, St. John, and St.

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.

To start a business in the U.S. Virgin Islands you will need to obtain a business license from the Department of Licensing and Consumer Affairs (DLCA).

In some cases, you may have to file a U.S. return, but be able to exclude income earned in a territory from U.S. tax. Filing requirements for specific U.S. territories are explained in Publication 570, Tax Guide for Individuals With Income From U.S. Possessions.

Puerto Rico is an unincorporated territory of the United States and Puerto Ricans are U.S. citizens; however, Puerto Rico is not a U.S. state, but a U.S. insular area. Consequently, while all Puerto Rico residents pay federal taxes, many residents are not required to pay federal income taxes.

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 ...

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Virgin Islands Additional Terms - Standard License