The tax credits authorized by this Act shall be subject to the following conditions: (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) 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.
COL 2026-05-05