12 Guam Code Ann. § 8115
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Terms Used In 12 Guam Code Ann. § 8115
- 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.
As an instrumentality of Guam, the Authority and all property acquired by or for the Board and all revenues and income therefrom are exempt from taxation by Guam or by any political subdivision or public corporation thereof and from all taxes imposed under the authority of the Legislature of Guam, or with respect to which the Legislature is authorized to grant exemption. Sales of liquid fuels for electric power generation to the Authority are exempt from the tax on such sales to the same extent as sales to the United States are exempt and sales of all fuel to the Authority for electric power generation are exempt from the business privilege tax.
COL 6/21/2023
12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 8 GUAM POWER AUTHORITY
SOURCE: GC § 21509, Subsection (b) repealed by P.L. 16-025:1 (Aug.
21, 1981). Amended by P.L. 29-002:VI:28 (May 18, 2007) the name, Gross Receipts Tax, changed to Business Privilege Tax, effective July 17,
2007.
2023 NOTE: References to “”Territory”” replaced with “”Guam”” pursuant to 1 Guam Code Ann. § 420.
2014 NOTE: Subsection designation was removed to adhere to the Compiler’s general codification scheme pursuant to the authority granted by 1 Guam Code Ann. § 1606.