Title 11 — Revenue
12 chapters · 127 sections in this title.
A.S.C.A. § 11.1801 Legislative findings and purposes
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The Legislature Finds and declares that: (1) The United States Congress has established, in Title VIII of the Tax Reform Act of 1984, various tax incentives to encourage foreign export trade by United States companies and has provided that tax-favored Foreign Sales Corporations m…
A.S.C.A. § 11.1802 Definitions
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As used in this chapter, unless the context clearly indicates otherwise: (a) The terms “Foreign Sales Corporations”, “FSC”, “Small FSC”, and “Foreign Trade Income” have the same meaning as are assigned those terms in Subpart C of Part III of Subchapter N of Chapter 1 of the Unite…
A.S.C.A. § 11.1803 Exemption of Foreign Sales Corporations from American Samoa Income Tax
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A corporation which is a Qualifying American Samoa Foreign Sales Corporation(within the meaning of 11.1807) for any taxable year is exempt from the payment of corporation income taxes on its net foreign trade income for that taxable year. History: 1984, PL 18-54
A.S.C.A. § 11.1804 Exemption of Foreign Sales Corporation shareholders
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No tax shall be imposed pursuant to sections 871(a)(l) and 881 of the Samoa Income Tax Act upon citizens and residents of the United States and upon corporations organized under the laws of any state of the United States with respect to items of income realized from sources withi…
A.S.C.A. § 11.1805 Exemption of Foreign Sales Corporations from withholding taxes
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A corporation which is a Qualifying American Samoa Foreign Sales Corporation(within the meaning of 11.1807) is exempt from the obligation imposed by sections 1441 and 1442 of the Samoan Income Tax Act to withhold the tax imposed by sections 871(a) and 881 of the Samoan Income Tax…
A.S.C.A. § 11.1806 Exemption of Foreign Sales Corporations from excise taxes, customs duties, etc
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A corporation which is a Qualifying American Samoa Foreign Sales Corporation (within the meaning of 11.1807) is exempt from all excise taxes on imports imposed under chapter 10, Title 11, A.S.C.A., all excise taxes on exports imposed under chapter 15, Title 11, A.S.C.A., and all …
A.S.C.A. § 11.1807 Qualifying American Samoa Foreign Sales Corporations
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(a) For purposes of this title, the term of Qualifying American Samoa Foreign Sales Corporation means a corporation which satisfies the following requirements: (1) It is a Foreign Sales Corporation within the meaning of section 992 of the Internal Revenue Code of 1954, as amended…
A.S.C.A. § 11.1808 Election of status as Qualifying American Samoa Foreign Sales Corporation
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(a) Time for Making. An election by a corporation to be treated as a Qualifying American Samoa Foreign Sales Corporation under 11.1807 shall be made by such corporation for a taxable year at any time during the period beginning 60 days immediately preceding and ending 60 days imm…
A.S.C.A. § 11.1809 Ten-year exemption
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Upon application to the Tax Exemption Board, a qualifying American Samoa Foreign Sales Corporation which incorporates before 1 January 1987 may be granted an exemption from income tax, withholding taxes, excise taxes and customs duties for which provision is made in 11.1803 throu…
A.S.C.A. § 11.1810 Rules and regulations
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The Tax Manager of American Samoa shall promulgate such rules and regulations as are necessary for the implementation of this chapter. History: 1984, PL 18-54 § 1.
A.S.C.A. § 11.1811 Franchise tax on Qualified American Samoa Foreign Sales Corporations
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(a) Effective 1 October, 1984, a franchise tax is imposed on each Qualified American Samoa Foreign Sales Corporation incorporated under the laws of American Samoa at any time during the taxable year. The franchise tax shall be referred to as the FSC Franchise Tax. (b) The amount …
A.S.C.A. § 11.1812 Modification of corporation law as regards Qualifying American Samoa Foreign Sales Corporations
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(a) So long as a corporation is a Qualifying American Samoa Foreign Sales Corporation (within the meaning of 11.1807) and otherwise satisfies the requirements of this chapter, the Governor of American Samoa shall not act pursuant to 30.0102 to revoke, set aside, or alter the corp…