GroundRules
12 GCA § 77403: Credit Against Business Privilege Taxes.
Where this section sits in the code
- Title 12: Autonomous Agencies
- Division 2 - Economic Development
- Chapter 77: Special Projects and Activities of the Guam Economic Development Authority
- ARTICLE 4: TAX CREDITS FOR CONTRIBUTORS TO PUBLIC SCHOOL SPORTS FACILITIES
(a) Individuals, corporations, or limited liability companies making contributions, as approved by the Superintendent of the Department of Education (DOE), towards the construction, development, upgrading, repair or maintenance of any gymnasium shall be authorized tax credits against Business Privilege Taxes. The basis for contribution to the project shall be the actual cost of the contribution plus the cost of transportation, if any, from the point of origin to its destination.
(b) Any unused credits not used in the current tax period may be carried over into subsequent tax periods until such credits are exhausted.
(c) The total credits allowed under this Article shall not exceed the actual dollar amount of the expenditures on the project by the taxpayer.
Collected 2026-09-27T03:26:28Z. Source file · JSON