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48 U.S.C. § 1421h — Duties, taxes, and fees; proceeds collected to constitute fund for benefit of Guam; prerequisites, amount, etc., remitted prior to commencement of next fiscal year
Federal law — U.S. Code and appendices · legal_authorities
All customs duties and Federal income taxes derived from Guam, the proceeds of all taxes collected under the internal-revenue laws of the United States on articles produced in Guam and transported to the United States, its Territories, or possessions, or consumed in Guam, and the proceeds of any other taxes which may be levied by the Congress on the inhabitants of Guam (including, but not limited to, compensation paid to members of the Armed Forces and pensions paid to retired civilians and military employees of the United States, or their survivors, who are residents of, or who are domiciled in, Guam), and all quarantine, passport, immigration, and naturalization fees collected in Guam shall be covered into the treasury of Guam and held in account for the government of Guam, and shall be expended for the benefit and government of Guam in accordance with the annual budgets; except that nothing in this chapter shall be construed to apply to any tax imposed by chapter 2 or 21 of the Internal Revenue Code of 1986 [[26 U.S.C. 1401](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section1401&num=0&edition=prelim) et seq., 3101 et seq.]. Beginning as soon as the government of Guam enacts legislation establishing a fiscal year commencing on October 1 and ending on September 30, the Secretary of the Treasury, prior to the commencement of any fiscal year, shall remit to the government of Guam the amount of duties, taxes, and fees which the governor of Guam, with the concurrence of the government comptroller of Guam, has estimated will be collected in or derived from Guam under this section during the next fiscal year, except for those sums covered directly upon collection into the treasury of Guam. The Secretary of the Treasury shall deduct from or add to th
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 1421h
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Source file: Laws/federal/codes/united-states-code/title-48/section-1421h-duties-taxes-and-fees-proceeds-collected-to-constitute-fund-for-benefit--c2db5b1302.md
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Source location: Title 48, Chapter 8A, § 1421h; chapter-8a-guam.md
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All customs duties and Federal income taxes derived from Guam, the proceeds of all taxes collected under the internal-revenue laws of the United States on articles produced in Guam and transported to the United States, its Territories, or possessions, or consumed in Guam, and the proceeds of any other taxes which may be levied by the Congress on the inhabitants of Guam (including, but not limited to, compensation paid to members of the Armed Forces and pensions paid to retired civilians and military employees of the United States, or their survivors, who are residents of, or who are domiciled in, Guam), and all quarantine, passport, immigration, and naturalization fees collected in Guam shall be covered into the treasury of Guam and held in account for the government of Guam, and shall be expended for the benefit and government of Guam in accordance with the annual budgets; except that nothing in this chapter shall be construed to apply to any tax imposed by chapter 2 or 21 of the Internal Revenue Code of 1986 [[26 U.S.C. 1401](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section1401&num=0&edition=prelim) et seq., 3101 et seq.]. Beginning as soon as the government of Guam enacts legislation establishing a fiscal year commencing on October 1 and ending on September 30, the Secretary of the Treasury, prior to the commencement of any fiscal year, shall remit to the government of Guam the amount of duties, taxes, and fees which the governor of Guam, with the concurrence of the government comptroller of Guam, has estimated will be collected in or derived from Guam under this section during the next fiscal year, except for those sums covered directly upon collection into the treasury of Guam. The Secretary of the Treasury shall deduct from or add to the amounts so remitted the difference between the amount of duties, taxes, and fees actually collected during the prior fiscal year and the amount of such duties, taxes, and fees as estimated and remitted at the beginning of that prior fiscal year, including any deductions which may be required as a result of the operation of Public Law 94–395 (90 Stat. 1199) or Public Law 88–170, as amended (82 Stat. 863).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Old-age, survivors, and disability insurance** In addition to other taxes, there shall be imposed for each taxable year, on the self-employment income of every individual, a tax equal to 12.4 percent of the amount of the self-employment income for such taxable year.
**(b) Hospital insurance**
(1) **In general** — In addition to the tax imposed by the preceding subsection, there shall be imposed for each taxable year, on the self-employment income of every individual, a tax equal to 2.9 percent of the amount of the self-employment income for such taxable year.
(2) **Additional tax**
(A) *In general* — In addition to the tax imposed by paragraph (1) and the preceding subsection, there is hereby imposed on every taxpayer (other than a corporation, estate, or trust) for each taxable year beginning after December 31, 2012, a tax equal to 0.9 percent of the self-employment income for such taxable year which is in excess of—
(i) in the case of a joint return, $250,000,
(ii) in the case of a married taxpayer (as defined in section 7703) filing a separate return, ½ of the dollar amount determined under clause (i), and
(iii) in any other case, $200,000.
(B) *Coordination with FICA* — The amounts under clause (i), (ii), or (iii) (whichever is applicable) of subparagraph (A) shall be reduced (but not below zero) by the amount of wages taken into account in determining the tax imposed under section 3121(b)(2) with respect to the taxpayer.
**(c) Relief from taxes in cases covered by certain international agreements** During any period in which there is in effect an agreement entered into pursuant to section 233 of the Social Security Act with any foreign country, the self-employment income of an individual shall be exempt from the taxes imposed by this
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1401
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Federal law — U.S. Code and appendices · legal_authorities
The legislative power of Guam shall extend to all rightful subjects of legislation not inconsistent with the provisions of this chapter and the laws of the United States applicable to Guam. Taxes and assessments on property, internal revenues, sales, license fees, and royalties for franchises, privileges, and concessions may be imposed for purposes of the government of Guam as may be uniformly provided by the Legislature of Guam, and when necessary to anticipate taxes and revenues, bonds and other obligations may be issued by the government of Guam: Provided, however, That no public indebtedness of Guam shall be authorized or allowed in excess of 10 per centum of the aggregate tax valuation of the property in Guam. Bonds or other obligations of the government of Guam payable solely from revenues derived from any public improvement or undertaking shall not be considered public indebtedness of Guam within the meaning of this section. All bonds issued by the government of Guam or by its authority shall be exempt, as to principal and interest, from taxation by the Government of the United States or by the government of Guam, or by any State or Territory or any political subdivision thereof, or by the District of Columbia. The Secretary of the Interior (hereafter in this section referred to as “Secretary”) is authorized to guarantee for purchase by the Federal Financing Bank bonds or other obligations of the Guam Power Authority maturing on or before December 31, 1978, which shall be issued in order to refinance short-term notes due or existing on June 1, 1976 and other indebtedness not evidenced by bonds or notes in an aggregate amount of not more than $36 million, and such bank, in addition to its other powers, is authorized to purchase, receive or otherwise acquire these
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 1423a
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Federal law — U.S. Code and appendices · legal_authorities
For the purposes of this subchapter—
**(a)** The term “person” shall include an individual, partnership, corporation, or the Government of the United States.
**(b)** The term “United States” when used in a geographical sense shall include the United States, its Territories and insular possessions, and the Canal Zone.
**(c)** The term “nationals of the United States” includes (1) persons who are citizens of the United States, and (2) persons who, though not citizens of the United States, owe permanent allegiance to the United States. It does not include aliens.
**(d)** The term “Yugoslav Claims Agreement of 1948” means the agreement between the Governments of the United States of America and of the Federal People’s Republic of Yugoslavia regarding pecuniary claims of the United States and its nationals, signed July 19, 1948.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 1621
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Federal law — U.S. Code and appendices · legal_authorities
Except as otherwise provided in this subchapter, and except as otherwise provided in section 28(a) of the Revised Organic Act of the Virgin Islands and section 30 of the Organic Act of Guam (relating to the covering of the proceeds of certain taxes into the treasuries of the Virgin Islands and Guam, respectively)—
(1) **Applicability of administrative provisions** — All provisions of the laws of the United States applicable to the assessment and collection of any tax imposed by this title or of any other liability arising under this title (including penalties) shall, in respect of such tax or liability, extend to and be applicable in any possession of the United States in the same manner and to the same extent as if such possession were a State, and as if the term “United States” when used in a geographical sense included such possession.
(2) **Tax imposed in possession** — In the case of any tax which is imposed by this title in any possession of the United States—
(A) *Internal revenue collections* — Such tax shall be collected under the direction of the Secretary, and shall be paid into the Treasury of the United States as internal revenue collections; and
(B) *Applicable laws* — All provisions of the laws of the United States applicable to the administration, collection, and enforcement of such tax (including penalties) shall, in respect of such tax, extend to and be applicable in such possession of the United States in the same manner and to the same extent as if such possession were a State, and as if the term “United States” when used in a geographical sense included such possession.
(3) **Other laws relating to possessions** — This section shall apply notwithstanding any other provision of law relating to any possession of the United States.
(4) **Virg
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 7651
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Tax imposed**
(1) **Puerto Rico** — All articles of merchandise of United States manufacture coming into Puerto Rico shall be entered at the port of entry upon payment of a tax equal in rate and amount to the internal revenue tax imposed in Puerto Rico upon the like articles of Puerto Rican manufacture.
(2) **Virgin Islands** — There shall be imposed in the Virgin Islands upon articles imported from the United States a tax equal to the internal revenue tax imposed in such islands upon like articles there manufactured.
**(b) Exemption from tax imposed in the United States** Articles, goods, wares, or merchandise going into Puerto Rico, the Virgin Islands, Guam, and American Samoa from the United States shall be exempted from the payment of any tax imposed by the internal revenue laws of the United States.
**(c) Drawback of tax paid in the United States** All provisions of law for the allowance of drawback of internal revenue tax on articles exported from the United States are, so far as applicable, extended to like articles upon which an internal revenue tax has been paid when shipped from the United States to Puerto Rico, the Virgin Islands, Guam, or American Samoa.
**(d) Cross reference** For the disposition of the proceeds of all taxes collected under the internal revenue laws of the United States on articles produced in Guam and transported into the United States or its possessions, or consumed in Guam, see the Act of August 1, 1950 ([48 U.S.C. 1421h](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section1421h&num=0&edition=prelim)).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 7653
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Social Security Act”.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1305
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Federal law — U.S. Code and appendices · legal_authorities
Page 2500
TITLE 26—INTERNAL REVENUE CODE
§ 1401
2 So in original. Probably should be ‘‘subsection (d)(1),’’.
(A) rules for the certification of qualified
opportunity funds for the purposes of this
section,
(B) rules to ensure a qualified opportunity
fund has a reasonable period of time to rein-
vest the return of capital from investments
in qualified opportunity zone stock and
qualified opportunity zone partnership inter-
ests, and to reinvest proceeds received from
the sale or disposition of qualified oppor-
tunity zone property, and
(C) rules to prevent abuse.
(f) Failure of qualified opportunity fund to main-
tain investment standard
(1) In general
If a qualified opportunity fund fails to meet
the
90-percent
requirement
of
subsection
(c)(1),2 the qualified opportunity fund shall
pay a penalty for each month it fails to meet
the requirement in an amount equal to the
product of—
(A) the excess of—
(i) the amount equal to 90 percent of its
aggregate assets, over
(ii) the aggregate amount of qualified op-
portunity zone property held by the fund,
multiplied by
(B) the underpayment rate established
under section 6621(a)(2) for such month.
(2) Special rule for partnerships
In the case that the qualified opportunity
fund is a partnership, the penalty imposed by
paragraph (1) shall be taken into account pro-
portionately as part of the distributive share
of each partner of the partnership.
(3) Reasonable cause exception
No penalty shall be imposed under this sub-
section with respect to any failure if it is
shown that such failure is due to reasonable
cause.
(Added Pub. L. 115–97, title I, § 13823(a), Dec. 22,
2017, 131 Stat. 2184.)
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective on Dec. 22, 2017, see section 13
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 1401
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Federal law — U.S. Code and appendices · legal_authorities
Page 102
TITLE 48—TERRITORIES AND INSULAR POSSESSIONS
§ 1421h
health services in Guam, including hospitals,
dispensaries, and quarantine stations, at such
places in Guam as may be necessary, and he
shall promulgate quarantine and sanitary regu-
lations for the protection of Guam against the
importation and spread of disease.
(b) Public educational system
The Government of Guam shall provide an
adequate public educational system of Guam,
and to that end shall establish, maintain, and
operate public schools according to the laws of
Guam.
(c) Office of Public Prosecutor; Office of Public
Auditor
The Government of Guam may by law estab-
lish an Office of Public Prosecutor and an Office
of Public Auditor. The Public Prosecutor and
Public Auditor may be removed as provided by
the laws of Guam.
(d) Attorney General
(1) The Attorney General of Guam shall be the
Chief Legal Officer of the Government of Guam.
At such time as the Office of the Attorney Gen-
eral of Guam shall next become vacant, the At-
torney General of Guam shall be appointed by
the Governor of Guam with the advice and con-
sent of the legislature, and shall serve at the
pleasure of the Governor of Guam.
(2) Instead of an appointed Attorney General,
the legislature may, by law, provide for the elec-
tion of the Attorney General of Guam by the
qualified voters of Guam in general elections
after 1998 in which the Governor of Guam is
elected. The term of an elected Attorney Gen-
eral shall be 4 years. The Attorney General may
be removed by the people of Guam according to
the procedures specified in section 1422d of this
title or may be removed for cause in accordance
with procedures established by the legislature in
law. A vacancy in the office of an elected Attor-
ney General shall
Source: Supplied 2024 U.S. Code historical extraction · 48 U.S.C. § 1421h
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