(a) Tax credits that cannot be applied during a single tax year may be applied to excise tax liability in subsequent years.

(b) A single contributor shall only be entitled to claim tax credits up to Twenty-Five Thousand Dollars ($25,000.00)

COL 8/23/2023

12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 77 SPECIAL PROJECTS AND ACTIVITIES OF THE GUAM ECONOMIC DEVELOPMENT AUTHORITY

per month, not to exceed Three Hundred Thousand Dollars ($300,000.00) per year or tax credits shall not be applied to more than fifty percent (50%) of the contributor==s monthly excise tax liability.

(c) To be eligible for the tax credits authorized by this Article, contributors must be licensed to do business on Guam.

SOURCE: Added by P.L. 27-130:1 (Dec. 20, 2004) as § 77406. Renumbered by the Compiler pursuant to authority of 1 Guam Code Ann. § 1606.