Title 11 — Finance and Taxation

COL120106 A taxpayer seeking a rebate under this Chapter shall attach to his income tax return when filing the same, a form furnished by the Guam Economic Development Authority reporting in detail all income and deductions therefrom upon which the claim for a rebate is based, wit…

Deposits for income tax subject to rebate pursuant to this Chapter shall be placed in a separate account in the Treasury of Guam, herein designated as the Foreign Source Income Tax Rebate Fund. SOURCE: GC § 19906, as added by P.L. 14-32.

The Director of Revenue and Taxation and the Board of Directors of the Authority, subject to the approval of the Legislature, by resolution, are authorized and directed to make and promulgate joint rules and regulations for the purpose of implementing the provisions of this Chapt…

This law may be cited as the American Investors Act. SOURCE: GC § 43600 added by P.L. 12-122 (6/21/1974). This entire Chapter was added by P.L. 12-122. Source references will be to this Public Law unless later amended or modified.

As used in this Chapter: (a) State means any of the United States, the District of Columbia, Puerto Rico, the Virgin Islands, American Samoa and the Trust Territory of the Pacific Islands. (b) American lender means (1) a member of the Federal Reserve System, an insured bank as de…

An American lender which (a) does not maintain a place of business in Guam, (b) conducts its principal activities outside Guam, and (c) complies with this Chapter, does not by engaging in Guam in any or all of the activities specified in the following section violate the laws of …

The activities referred to in the preceding section are: (a) Making loans; (b) Receiving security for loans; (c) Acquiring by assignment or otherwise partial or entire interests in loans or in security for loans; (d) Servicing (but servicing only by or through individuals who are…

Before engaging in Guam in any of the activities specified in § 35104, an American lender shall execute and file with the Director of Revenue & Taxation a statement. The statement shall list its name, state of incorporation or organization, and principal place of business, shall …

(a) If after notice and hearing as hereinafter provided, the Director of Revenue & Taxation shall determine that any American lender having on file a statement as provided in § 35105, (1) maintains an office in Guam, (2) conducts its principal activities in Guam, or (3) is or was…

Nothing in this Chapter shall require any corporation to qualify to do business in Guam, or subject any person, firm, corporation, or trust to taxation under any law of Guam if, but for the enactment of this Chapter, the person, firm, corporation, or trust would not have been req…

In addition to such other jurisdiction as the District Court of Guam has with respect to the income tax provided by §81 of the Organic Act of Guam [48 U.S.C.A. GC § 1421i] and pursuant to the United States Internal Revenue Code of 1954, as amended, and any future amendments there…

At the discretion of the Director, any unpaid gross [sic] tax liability may be the basis for cause of action by the government of Guam in the Superior Court of Guam. Such action shall be initiated by complaint and shall be subject to the Rules of Civil Procedure. SOURCE: Added by…

Notwithstanding any law or rules and regulations to the contrary, when the government of Guam cannot make cash payment for the acquisition of privately-owned lands due to the unavailability of funds or for other reasons, the owner of such real property acquired by the Government …

The Director of Revenue and Taxation shall, pursuant to the Administrative Adjudication Act, formulate rules and regulations to implement the provisions of §38101. SOURCE: GC § 19901, as added by P.L. 14-69:1. ---------- COL120106

This Chapter may be cited as the Tax Preparer Act. SOURCE: GC § 53640, as added by P.L. 13-92.

As used in this Chapter: (a) Tax preparer means a person, who for a fee assists with or prepares tax return for others, but does not mean an employee, representative, partner agent, officer or member of a registered tax preparer’s office. (b) Division means the appropriate Divisi…

The following persons are exempt from the requirements of this Chapter: (a) Any person regulated by the Board of Public Accountancy; (b) Any person who is a member of the Guam Bar Association; (c) Any trust company or trust business; (d) Any person who is authorized to practice b…

The duty of enforcing and administering this Chapter is vested in the Director, who shall promulgate appropriate rules and regulations for the implementation of this Act. Every power granted or duty imposed upon the Director by this Chapter may be exercised or performed in the na…

(a) Every tax preparer shall take an examination of not less than fifty (50) questions which will be prepared by the Director of such division or organizational unit or board as he may designate. To qualify, each preparer must receive a passing grade of at least seventy percent (…

Upon receipt of the form properly filled out, and receipt of the required fee, and receipt of proof of deposit of the bond required by this Chapter, if the Director determines that the applicant is eligible, he shall validate the registration and send a proof of such valid regist…

On or after July 1, 1976, it shall be unlawful for any person to be a tax preparer unless such person is registered in accordance with the provisions of this Act. Any person who violates this Section is guilty of a petty misdemeanor for each violation of this Section. SOURCE: GC …

(a) The Director may refuse to validate or may suspend or revoke, temporarily or permanently, the registration of tax preparer for any of the following acts or omissions relating to preparing tax returns for others for a fee which are done by the tax preparer or any employee, rep…

If the Director refuses to validate a registration, he shall notify the applicant by personal service or registered mail, return receipt requested, mailed to the address as shown on the registration form. In the event such notice is given, the applicant shall be given a hearing i…

A judge of the Superior Court, may upon a petition filed by the Director, issue an injunction or other appropriate order restraining conduct in violation of provisions of this Act or other regulations adopted pursuant to this Chapter. The proceedings under this Section shall be g…

Nothing in the provisions of this Chapter shall prohibit the bringing of a civil action against a tax preparer by an individual. SOURCE: GC § 53650, as added by P.L. 13-92.

COL070307 REGULATION OF TAX PREPARERS If any provision of this Chapter or application thereof to any person or circumstance is held unconstitutional, the remainder of the Chapter and the application of such provision to other persons or circumstances shall not be affected thereby…

A tax preparer shall deposit with the Division, prior to registration or registration renewal, a cash or surety bond issued by an insurer licensed on Guam in the penal sum of One Thousand Dollars ($1,000.00). The bonds required by this Section shall be payable to the General Fund…

If any tax preparer fails to file a new bond with the division within thirty (30) days after notice of cancellation by the surety of the bond required under § 40113 the registration under this Chapter shall be suspended until such time as a new bond is filed. A person whose regis…

No tax preparer or employee, representative, partner, officer, agent or member of a tax preparer firm shall make, or authorize the making of any reference to the registration required by this Chapter in any advertising medium. Advertising medium shall include but shall not be lim…

All fees and revenues collected pursuant to this Chapter shall be paid into the General Fund. SOURCE: GC § 53655, as added by P.L. 13-92.

The fees prescribed by this Chapter shall be set by the Director in the amount estimated to provide for the administration of this Chapter within the limits of the following schedule: (a) The tax preparer registration fee shall be established by the Director at a sum not less tha…

Within this Chapter, the following terms have the following meanings: (a) Employer means any sole proprietorship, partnership, corporation or other business association which pays wages to private individuals who work on behalf of the employer, perform domestic service on behalf …

Agency (SWICA). The Department of Revenue and Taxation shall be the State Wage Information and Collection Agency (SWICA) as required by the Act. The SWICA shall comply with all the requirements found in the Act; all of the federal regulations concerning State Wage Information Age…

Services. SWICA shall implement a program of wage information collection in conjunction with Department of Public Health and Social Services. Such program shall crossmatch employee wage information with information from Social Service programs administered by the Department of Pu…

Within ninety (90) days of the enactment of this Chapter, every employer on Guam, including the government of Guam, shall file quarterly wage reports with SWICA concerning each of its employees by the thirtieth (30th) day following the end of each calendar quarter as defined here…

(a) Failure to file on time. If an employer fails to file the information required under this Chapter on or before the date prescribed, unless such failure is due to reasonable cause, there shall be imposed on the employer a penalty of one hundred dollars ($100) per employee for …

Health and Social Services. SWICA shall, upon written request, disclose current return information for the purpose of, and to the extent necessary for, determining eligibility for, or the correct amount of, benefits under a program listed in Section 41101(f). (a) Requirements gov…

Not later than sixty (60) days from the end of each calendar quarter, SWICA shall crossmatch employee information as obtained pursuant to Section 41104 with Social Service program information held by the Department of Public Health and Social Services. Such crossmatching shall be…

The sum of Four Hundred Thousand Dollars ($400,000) is hereby reappropriated from the appropriations made to the Executive Branch for FY ’88 pursuant to Public Law 19-10. These funds are to be used to fund the implementation of the State Wage Information Collection Agency (SWICA)…

The Departments of Revenue and Taxation and of Public Health and Social Services shall adopt regulations to facilitate the administration of the State Wage Information and Collection Agency (SWICA) in accordance with the Administrative Adjudication Law. SOURCE: Added by P.L. 19-2…

If any of the provisions of this Chapter, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect any other provision or application of this Chapter which can be given effect without the invalid provision or application, and to …

For purposes of this Chapter, those definitions in the Internal Revenue Code applicable to Earned Income Tax Credit are applicable to this Chapter to implement the Guam Earned Income program contained in this Chapter.

Earned Income Program. For Fiscal Year 1998 and each year thereafter, the Department of Revenue and Taxation is authorized to institute an Earned Income program to mirror the program instituted by the federal government and known as the, Earned Income Tax Credit.

Program. The Federal Earned Income Tax Credit is a subsidy authorized in the states and offered to lower income workers as an incentive to better their economic conditions and enables them to remain within the work force. The Guam Earned Income program shall be instituted using t…

For Fiscal Year 1998 and each year thereafter, the Department of Revenue and Taxation is authorized on a continuing basis to spend funds from the Provisions of Refunds as set out in >Exhibit A= of Public Law Number 24-59 for Fiscal Years 1998 and 1999 in such amounts as are COL12…

Teachers traditionally spend their own money on various supplies (e.g. bulletin board materials, books, pencils, crayons and markers). Although these expenses are deductible as unreimbursed business expenses on a teacher’s income tax return, election of the standard deduction mea…

The definitions set forth herein shall govern the construction and interpretation of this Chapter; (a) ‘Eligible educator’ means a kindergarten through grade 12 in the Guam public school system and in Guam’s private schools: (1) Teacher; (2) Instructor; (3) Counselor; (4) Princip…

A rebate in an amount equal to the qualified expenses incurred, but not to exceed Five Hundred Dollars ($500.00) of personal income tax paid by resident individual taxpayers, who are eligible educators, to the government of Guam is hereby established and declared.

When a tax return is accompanied by an EQC(s), the amount of tax due prior to the rebate shall be deposited with the government of Guam at the time of filing the income tax return. Alternatively, if no payment is due at the time the tax return is filed, the Tax Commissioner of Gu…

Deposits made pursuant to §4304 shall be covered over and deposited into the fund created by 12 GCA §58138.