11 Guam Code Ann. § 78104
Terms Used In 11 Guam Code Ann. § 78104
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
12 Guam Code Ann. § 2431(b), no business license other than the Guam FSC license
shall be required with respect to earning such foreign trade income as well as investment income as that term is defined in 12 Guam Code Ann. § 2431(f)
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11 Guam Code Ann. FINANCE & TAXATION
CH. 78 FOREIGN SALES CORPORATION LICENSES
and carrying charges as that term is defined in 12 Guam Code Ann. § 2431(g). However to the extent a FSC conducts any business activities which are intended to produce or do produce any income other than foreign trade income, investment income and carrying charges, the FSC shall be required to obtain such business licenses and permits as are required of any other domestic corporation incorporated in Guam and transacting business in Guam. Foreign trade income, investment income and carrying charges of a FSC duly licensed hereunder shall qualify for the special tax incentives provided in as amended from time to time. All income of a FSC other than foreign trade income, carrying charges and investment income shall be taxed in the same manner as income of any other domestic corporation incorporated in Guam.
SOURCE: GC §16503 added by P.L. 17-63: amended by P.L. 17-75:8.