2019 U.S. 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)
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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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