(a) A small business concern that hires persons with disabilities is entitled to receive an annual income tax deduction of five percent of the annual salary of the person with disabilities. To qualify for the deduction, the small business’ concern must have employees with disabilities who work not fewer than 20 hours per week.
(b) The annual income tax deduction for a small business provided in subsection (a) of this section applies only to new hires and is offered for a period not to exceed five years.
(c) For purposes of this section only:(1) “Small business concern” means a sole proprietor or legal entity, such as a corporation, cooperative, partnership, or limited liability company, licensed and doing business in the Virgin Islands, with not more than 20 employees whose owner must be a bona fide resident of the Virgin Islands with an equitable or legal interest in the business of not less than 51%.(2) (A) Bona fide resident means:(i) any United States citizen currently domiciled in the Virgin Islands for one year or longer; or(ii) the holder of an alien registration receipt card, formally designated as United States Department of Justice Form No. 1-151, domiciled in the Virgin Islands for one year or more; or(iii) a person who has attended a school in the Virgin Islands for at least five years or more or is a graduate of a Virgin Islands high school, or of the University of the Virgin Islands, and is registered to vote in the Virgin Islands.(B) For the purposes of this section, a person shall demonstrate that he has been a resident for one year or more by using the date of issuance information from a W-2 form, a voter registration card, a permanent resident card, or a Virgin Islands driver’s license.
(1) “Small business concern” means a sole proprietor or legal entity, such as a corporation, cooperative, partnership, or limited liability company, licensed and doing business in the Virgin Islands, with not more than 20 employees whose owner must be a bona fide resident of the Virgin Islands with an equitable or legal interest in the business of not less than 51%.
(2) (A) Bona fide resident means:(i) any United States citizen currently domiciled in the Virgin Islands for one year or longer; or(ii) the holder of an alien registration receipt card, formally designated as United States Department of Justice Form No. 1-151, domiciled in the Virgin Islands for one year or more; or(iii) a person who has attended a school in the Virgin Islands for at least five years or more or is a graduate of a Virgin Islands high school, or of the University of the Virgin Islands, and is registered to vote in the Virgin Islands.(B) For the purposes of this section, a person shall demonstrate that he has been a resident for one year or more by using the date of issuance information from a W-2 form, a voter registration card, a permanent resident card, or a Virgin Islands driver’s license.
(A) Bona fide resident means:(i) any United States citizen currently domiciled in the Virgin Islands for one year or longer; or(ii) the holder of an alien registration receipt card, formally designated as United States Department of Justice Form No. 1-151, domiciled in the Virgin Islands for one year or more; or(iii) a person who has attended a school in the Virgin Islands for at least five years or more or is a graduate of a Virgin Islands high school, or of the University of the Virgin Islands, and is registered to vote in the Virgin Islands.
(i) any United States citizen currently domiciled in the Virgin Islands for one year or longer; or
(ii) the holder of an alien registration receipt card, formally designated as United States Department of Justice Form No. 1-151, domiciled in the Virgin Islands for one year or more; or
(iii) a person who has attended a school in the Virgin Islands for at least five years or more or is a graduate of a Virgin Islands high school, or of the University of the Virgin Islands, and is registered to vote in the Virgin Islands.
(B) For the purposes of this section, a person shall demonstrate that he has been a resident for one year or more by using the date of issuance information from a W-2 form, a voter registration card, a permanent resident card, or a Virgin Islands driver’s license.