GroundRules
12 GCA § 77506: Miscellaneous.
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 5: TAX CREDITS FOR CONTRIBUTORS TO THE UNIVERSITY OF GUAM SPORTS COMPLEX
The tax credits authorized by this Act shall be subject to the following conditions:
(a) Tax credits that cannot be applied during a single tax year may be applied to excise tax liability in subsequent years.
(b) A single contributor shall only be entitled to claim tax credits up to Twenty-Five Thousand Dollars ($25,000.00) per month, not to exceed Three Hundred Thousand Dollars ($300,000.00) per year or tax credits shall not be applied to more than fifty percent (50%) of the contributor’s monthly excise tax liability.
(c) To be eligible for the tax credits authorized by this Article, contributors must be licensed to do business on Guam.
Collected 2026-09-27T03:26:28Z. Source file · JSON