2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 5 - Corporation Franchise Tax
§ 532. Late payment of tax; penalties
Universal Citation: V.I. Code tit. 13, § 532 (2019)
Every corporation failing to pay the annual franchise tax as prescribed by sections 531, 531a, 531b, and 531c of this title, shall, in addition to the tax, be liable for a penalty of 20 percent (20%) of the tax or $50, whichever is greater and interest at 1 percent compounded annually for each month or part thereof that the tax remains unpaid, payable to the Lieutenant Governor.
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