Tax Incentives on St Croix

St Croix Income TaxThe Economic Development Commission (EDC), or Economic Development Authority (EDA), is a branch of the government that seeks to foster economic growth within the United States Virgin Islands. The EDC offers tax incentives to qualifying U.S. corporations that move or open businesses in the U.S.V.I. The federal and territorial governments created this incentive to create jobs and stimulate the local economy.

The tax incentives include substantial reductions in, or exemptions from many of the taxes imposed on U.S. businesses. For example, businesses can receive up to a 90% exemption on corporate income taxes, and up to 100% exemption on property taxes, gross receipts taxes, and excise taxes for building materials for up to 15 years. Qualifying businesses must in manufacturing, goods producing, product assembly, or a service business that provide a certain service to customers outside the Virgin Islands, For more information regarding the EDC, please call (340) 774-8104, or toll free, 1-877-432-8784, or visit their website at www.usvieda.org

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