Lt. Governor Gregory R. Francis Reminds Corporate Citizens to File Franchise Taxes by the June 30th
For Immediate Release No. 024-11
May 25, 2011
For More Information Contact:
Shawna Richards, Director of Communications
Ph: (340) 773-6459 ext. 3129
Fax: (340) 719-3801
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Lt. Governor Gregory R. Francis Reminds Corporate Citizens to File Franchise Taxes by the June 30th Deadline
Lieutenant Governor Gregory R. Francis is reminding and strongly encouraging corporate citizens to satisfy the franchise tax and annual filing requirements of Titles 13 and 26 of the Virgin Islands Code which requires every registered corporation (domestic and foreign) to pay a franchise tax to the Office of the Lieutenant Governor on or before June 30th of every year. Statutory filing requirements and annual fees also apply to LLC, LLP, and LLLP organizations. Non-profit corporations are required to file Annual Reports and Financial Statements.
Failure to comply with the annual requirements will result in the assessment of penalties and interest, non-issuance of a Certificate of Good Standing or even administrative/involuntary dissolution.
Checks and money orders must be made payable to the Government of the Virgin Islands. For more information, please contact the Office of the Lieutenant Governor’s Division of Corporations and Trademarks at 773-6449 on St. Croix or 776-8515 on St. Thomas.
