Services
Everything we do for Virgin Islands businesses.
The territory’s recurring filings are the core of the practice, alongside forensic work led by a Certified Fraud Examiner. The notices, the prior years nobody wants to open and the questions that don’t wait for tax season land here too.
One firm, one set of books
More than one agency, more than one calendar
A Virgin Islands business answers to more than one agency. The gross receipts return goes to the Bureau of Internal Revenue every month. The income tax return also goes to the Bureau, but on profit, and only after residency and sourcing are settled. The annual report and franchise tax go to the Office of the Lieutenant Governor by June 30. Payroll withholding splits between two agencies, depending on who the employee is.
One firm doing all of it means each filing feeds the next: the books we close become the income tax return and, for a corporation, the annual report’s financial statements, and the monthly sales summary that feeds the gross receipts return keeps those books current. Split across firms, the same numbers get rebuilt for each one.
If what you need isn’t listed here, ask anyway. We’ll tell you straight whether we’re the right firm for it.
Practice
Tax & Accounting
Every return, filed where it belongs.
- Gross Receipts Tax Form 720 V.I. prepared and filed every month, including the months nothing is owed.
- Income Tax Residency and sourcing settled first, then the return filed with VIBIR, the IRS, or both.
- Payroll Income tax withheld from bona fide residents goes to VIBIR, not the IRS. We route it there.
- Bookkeeping Send the records you keep. Get back income tax basis statements that balance.
- Annual Report The June 30 annual report and franchise tax, filed on Catalyst with the Lieutenant Governor.
Certified Fraud Examiner
Forensic
Investigations led by a CPA and fraud examiner.
Practice
EDC & RTPark
Keep the benefit and the filings current.
How we work
Our engagement process
Five steps for tax, accounting and EDC work. Forensic engagements are scoped with you or your counsel.
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1
Intro call
We go through your filings together, agency by agency, and write down what is current, what is late and what we would take on. Nothing to prepare on your side.
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2
Document checklist
One list, specific to the filings we are taking on, so the first round of documents is one round rather than four.
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3
Upload through the portal
Documents go through our secure client portal instead of email attachments, so they stay in one place and you can see what we have received.
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4
Prepare
We do the work and come back with questions rather than assumptions. Anything that needs your judgment is asked before it reaches a filing.
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5
Approve and sign
You review the finished return or statements and approve them, signing electronically where a return needs your signature. Nothing is filed without your approval.
Between the filings
The work that isn’t on a calendar
Most of what clients call about is not a scheduled filing. A notice arrives and nobody knows which agency sent it or whether it is serious. A prior year was filed in the wrong place. A business that has always been under the $225,000 line has a very good winter, and the useful time to find out what that does to the whole year is September, not December.
- Notices from the Bureau or the Lieutenant Governor, and what they actually require
- Prior years filed in the wrong place, or not filed at all
- Which returns a new entity owes, and to which agency
- Residency settled before a move rather than after it
- Whether an incentive benefit is worth the compliance that comes with it
None of that is a separate engagement. It is the ordinary run of a practice built around this territory.
Where to start
Not sure which filing you need
Most people arrive knowing something is late and not knowing which agency wants it. That is a normal starting point, and working it out is the first thing we do. These guides cover what businesses ask about first:
- The USVI gross receipts tax: rate, exemption and deadlines
- Form 720 V.I., the monthly return
- How taxes work in the U.S. Virgin Islands
Or skip the reading and get in touch with the St. Thomas office. Bring the last thing you filed.
Bring us the filings.
We’ll go through them with you, agency by agency, and say plainly what we would take over.