Title 11 — Revenue
12 chapters · 127 sections in this title.
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…
A.S.C.A. § 11.1901 Legislative findings and purposes
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(a) The Legislature finds and declares that: (1) agriculture, shipping, tourism, fishing, maritime, economic development and related business industries, among others, are vital to the economy of the Territory and the welfare of the people, and need to be enhanced and expanded to…
A.S.C.A. § 11.1902 Definitions
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As used in this chapter, unless the context clearly indicates otherwise: (1) “Agricultural business” means farms, ranches and other enterprises engaged in, or facilities directly or indirectly related to, the production of agricultural commodities and forest products or businesse…
A.S.C.A. § 11.1903 Establishment of American Samoa Economic Development Authority
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(a) There is established the American Samoa Economic Development Authority to be an agency of the government, and a body corporate and politic to implement the public purposes of this chapter. The Authority may act on behalf of the government for the specific purposes prescribed …
A.S.C.A. § 11.1904 Authorization to issue bonds
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(a) The Authority may issue bonds or enter into other obligations to finance all or any portion of the cost of a project or facility or otherwise implement any project set forth and defined by this chapter. (b) Bonds issued for each project under the provisions of this chapter do…
A.S.C.A. § 11.1905 Powers of the Authority
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(a) The Authority has the following specific powers with respect to any project together with all other powers incidental, necessary or appropriate for the implementation of these projects not in conflict with the provisions of this chapter: (1) to acquire, whether by constructio…
A.S.C.A. § 11.1906 Miscellaneous provisions
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(a) The Authority shall submit an annual report; signed by the Chairman of the Board of Directors, to the Governor and members of the Legislature showing a summary of the year’s activities, the financial condition of the Authority, the condition of the properties, the number of h…
A.S.C.A. § 11.1907 Legal effect of this chapter
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Nothing in this chapter shall be construed to violate any provision of the Constitution of American Samoa, and all acts taken under this chapter shall conform to the Constitution, whether expressly provided or not. Where any procedure of this chapter is held by any court to viola…
A.S.C.A. § 11.3001 Scope of application
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This chapter shall apply to all bonds, notes and other evidences of indebtedness of the American Samoa Government(ASG) authorized by the Legislature, unless otherwise provided in the authorizing acts. It shall not apply to indebtedness of any governmental agency or any public cor…
A.S.C.A. § 11.3002 Finance Committee
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The Governor, the Lieutenant Governor, and the Treasurer, or their designee, shall constitute the American Samoa Finance Committee. Two members of the Committee constitute a quorum for taking action. History: 2000, PL 26-24.
A.S.C.A. § 11.3003 Records - Administrative and clerical assistance
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The Finance Committee shall keep a full and complete public record of the proceedings in appropriate books of record. The Governor shall provide administrative and clerical assistance for the Finance Committee. History: 2000, PL 26-24.
A.S.C.A. § 11.3004 Rules and regulations - Chairman
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The Finance Committee may make appropriate rules and regulations for the performance of its duties. The Governor, or the Governor
A.S.C.A. § 11.3005 Reports of debt management activities
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The Finance Committee shall prepare written reports at least annually summarizing the debt management activities of the Finance Committee, which reports shall be sent to agencies having a direct financial interest in the issuance and sale of bonds by the Committee, and to other p…
A.S.C.A. § 11.3006 Evidences of indebtedness - Issuance - Signature
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Bonds, notes or other evidences of indebtedness of the American Samoa Government shall be issued by the Finance Committee. They may be issued at one time or in a series from time to time. The maturity date of each series shall be determined by the Finance Committee. All evidences…
A.S.C.A. § 11.3007 Disposition of proceeds from sale of bonds
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The proceeds of the sale of any bonds shall be used solely for the purposes, including any expense incurred in connection with the issuance and sale of such bonds, specified in the general statute or special act authorizing the issuance of such bonds. History: 2000, PL 26-24.
A.S.C.A. § 11.3009 Retirement fund quarantine of American Samoa Government refunding bonds
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(a) The American Samoa Government Employees Retirement Fund is authorized by A.S.C.A., Section 7.1444 to undertake, by action of its Board of Trustees, to guarantee the payment of the principal of and interest on bonds issued by the American Samoa finance committee for the purpos…
A.S.C.A. § 11.3010 Legislative authorization of refunding bonds
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(a) The American Samoa Finance Committee is authorized to issue refunding bonds in the principal amount of not to exceed $19,000,000 for the purpose of refunding part or all of the following obligations and to pay all costs incurred in connection with such bond issuance and refun…
A.S.C.A. § 11.3011 Trust funds authorized
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(a) The Finance Committee is authorized to contract with a trustee bank or trust company for all services necessary or useful in connection with the issuance, sale, delivery and payment of such refunding bonds. (b) All revenues from the following sources may be pledged by the fin…
A.S.C.A. § 11.3012 Consent to suit
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The American Samoa Government, whether acting in its governmental or proprietary capacity, is subject to suit in the territorial and federal courts for obligations created in this chapter, and shall be liable for damages and subject to the equity powers of the courts in any actio…
A.S.C.A. § 11.3013 Procurement
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All decisions regarding purchasing by the Finance Committee shall be in strict accordance with the American Samoa Government’s procurement laws, pursuant to Title 12, A.S.C.A. History: 2007, PL, 30-26.