U.S. Virgin Islands

USVI inheritance tax remains in the code but all inheritances after 1984 are exempt

“Although a Virgin Islands inheritance tax is set out in Chapter 1, Title 33 of the V.I. Code, all inheritances after 1984 are exempt from taxation.”

Note: Extracted via pdftotext from the fetched BIR booklet, section 'VIRGIN ISLANDS INHERITANCE TAXES'. Parallel VI gift tax also on the books, gifts after Sept 18, 1984 exempt.

USVI Mirror Code: federal income tax laws apply in the Virgin Islands as territorial income tax

“The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States, except that the proceeds of such taxes shall be paid into the treasuries of said islands: Provided further, That, notwithstanding any other provision of law, the Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.”

Note: The surtax proviso authorizes up to 10% of annual income tax obligation as a tax-on-tax add-on (not 10 percentage points on the base rate). Whether the USVI Legislature has enacted this surtax was unconfirmable: bir.gov.vi was unreachable at research time. The Mirror Code baseline (federal 0%/15%/20% LTCG rates) is confirmed at high confidence. The surtax fact below is encoded at medium confidence pending USVI BIR verification.

USVI Mirror Code: federal income tax laws apply in the Virgin Islands as territorial income tax

“The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States, except that the proceeds of such taxes shall be paid into the treasuries of said islands: Provided further, That, notwithstanding any other provision of law, the Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.”

Note: The surtax proviso authorizes up to 10% of annual income tax obligation as a tax-on-tax add-on (not 10 percentage points on the base rate). Whether the USVI Legislature has enacted this surtax was unconfirmable: bir.gov.vi was unreachable at research time. The Mirror Code baseline (federal 0%/15%/20% LTCG rates) is confirmed at high confidence. The surtax fact below is encoded at medium confidence pending USVI BIR verification.

USVI Legislature authorized to levy surtax up to 10% of annual income tax obligation; current enactment status unconfirmed

“The Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.”

Note: The federal statute authorizes a surtax but does not require it. Whether the USVI Legislature has enacted this surtax and at what rate (0-10% of tax liability) is a USVI-level question that requires verification from USVI Bureau of Internal Revenue (bir.gov.vi). Until confirmed, this fact is encoded at medium confidence as an authorized-but-unconfirmed provision.

USVI Mirror Code: federal income tax laws apply in the Virgin Islands as territorial income tax

“The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States, except that the proceeds of such taxes shall be paid into the treasuries of said islands: Provided further, That, notwithstanding any other provision of law, the Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.”

Note: The surtax proviso authorizes up to 10% of annual income tax obligation as a tax-on-tax add-on (not 10 percentage points on the base rate). Whether the USVI Legislature has enacted this surtax was unconfirmable: bir.gov.vi was unreachable at research time. The Mirror Code baseline (federal 0%/15%/20% LTCG rates) is confirmed at high confidence. The surtax fact below is encoded at medium confidence pending USVI BIR verification.

USVI Mirror Code: federal income tax laws apply in the Virgin Islands as territorial income tax

“The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States, except that the proceeds of such taxes shall be paid into the treasuries of said islands: Provided further, That, notwithstanding any other provision of law, the Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.”

Note: The surtax proviso authorizes up to 10% of annual income tax obligation as a tax-on-tax add-on (not 10 percentage points on the base rate). Whether the USVI Legislature has enacted this surtax was unconfirmable: bir.gov.vi was unreachable at research time. The Mirror Code baseline (federal 0%/15%/20% LTCG rates) is confirmed at high confidence. The surtax fact below is encoded at medium confidence pending USVI BIR verification.

USVI Mirror Code: federal income tax laws apply in the Virgin Islands as territorial income tax

“The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States, except that the proceeds of such taxes shall be paid into the treasuries of said islands: Provided further, That, notwithstanding any other provision of law, the Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.”

Note: The surtax proviso authorizes up to 10% of annual income tax obligation as a tax-on-tax add-on (not 10 percentage points on the base rate). Whether the USVI Legislature has enacted this surtax was unconfirmable: bir.gov.vi was unreachable at research time. The Mirror Code baseline (federal 0%/15%/20% LTCG rates) is confirmed at high confidence. The surtax fact below is encoded at medium confidence pending USVI BIR verification.

U.S. Virgin Islands taxes FNMA and FHLMC bond interest: USVI Mirror Code incorporates federal IRC including gross income rules; 31 U.S.C. §3124 preempts only direct U.S. obligation taxation; FNMA/FHLMC are not U.S. government obligations

“Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.”

Note: USVI Mirror Code (48 U.S.C. § 1397) incorporates IRC Subtitle A: FNMA/FHLMC interest is in federal gross income (not IRC-excluded). 31 U.S.C. §3124 exempts only 'obligations of the United States Government'; FNMA (12 U.S.C. §§1719(e), 1723a(c)) and FHLMC (12 U.S.C. §1455(a)) are GSEs with no bondholder exemption. No VIBIR ruling found. Confidence: medium.

USVI Mirror Code incorporates IRC §1(h)(11): qualified dividends receive preferential 0%/15%/20% rates under USVI territorial income tax (subject to domestic-corporation substitution nuance)

“The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States.”

Note: IRC §1(h)(11) (qualified dividend preference) is part of IRC Subtitle A, incorporated by 48 U.S.C. §1397. Under mirror-code substitution, 'domestic corporation' in §1(h)(11) may be read as a USVI-incorporated corporation; no authoritative IRS or VIBIR ruling has definitively resolved whether dividends from US mainland corporations qualify. Encoded as preferential (prior session research judgment); confidence: medium.

FHLB and FFCB bond interest exempt from U.S. Virgin Islands taxation: federal enabling statutes mandate state tax exemption

“Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.”

Note: 12 U.S.C. §1433 says 'any State, county, municipality, or local taxing authority'; that clause refers to sub-state political subdivisions, not U.S. territories. USVI is bound by §1433 and §2023 under the Supremacy Clause (U.S. Const. art. VI, cl. 2): federal enabling statutes bind territorial governments. See also constitutional intergovernmental tax immunity (McCulloch v. Maryland, 17 U.S. 316 (1819)). Confidence: medium; no VIBIR ruling found.

Farm Credit Act: notes, bonds, debentures, and other obligations of Farm Credit Banks are instrumentalities of the United States exempt from all State, municipal, and local taxation

“The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).”

Note: 12 U.S.C. §2023 explicitly covers 'the income therefrom' (i.e., interest payments to bondholders), exempting it from all State and local taxation. The only carve-out is federal income tax on the holder. Parallel to 12 U.S.C. §1433 (FHLB Act), which exempts FHLB securities from state taxation. Together §1433 and §2023 mandate state and local tax exemption for both FHLB and FFCB bond interest. Shared across all jurisdictions: a single object reference satisfies buildCitationIndex() identity check.

USVI Mirror Code: federal income tax laws apply in the Virgin Islands as territorial income tax

“The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States, except that the proceeds of such taxes shall be paid into the treasuries of said islands: Provided further, That, notwithstanding any other provision of law, the Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.”

Note: The surtax proviso authorizes up to 10% of annual income tax obligation as a tax-on-tax add-on (not 10 percentage points on the base rate). Whether the USVI Legislature has enacted this surtax was unconfirmable: bir.gov.vi was unreachable at research time. The Mirror Code baseline (federal 0%/15%/20% LTCG rates) is confirmed at high confidence. The surtax fact below is encoded at medium confidence pending USVI BIR verification.