In Puerto Rico all businesses that are engaged in Puerto Rico business activities must file a corporate income tax return. In the case where the business has revenue of $3 million or more, tax returns must be accompanied by audited financial statements that are prepared in accordance with United States GAAP/GAAS accounting principles and standards. Returns are due on the fifteenth day of the fourth month following the close of its taxable year. Extensions are available, but of course, filing an extension does not relieve you of your obligation to pay the taxes due on the 15th day after the fourth month following the close of the taxable year (usually April 15th). In addition quarterly estimated payments are also required. As always there are more rules and this post contains simplifications. Additionally, as always a professional should be consulted and be presented with specific information.
The information on this website is general information and is for educational use and has not been verified for accuracy nor completeness. You, the reader, should further research your specific individual situation. In addition you should contact your accounting professional for professional advice derived from specific details from your structure and financial position.
In Puerto Rico all businesses that are engaged in Puerto Rico business activities must file a corporate income tax return. In the case where the business has revenue of $3 million. studio commercialista milanoReplyDelete
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