48-U.S.C.-1397
§1397 – Income Tax Laws of United States In Force; Payment of Proceeds; Levy of Surtax On All Taxpayers
Pathway
Title 48 > Chapter 7 > Subchapter I > Section 1397
Details
- Reference: Section 1397
- Legend: §1397 – Income Tax Laws of United States In Force; Payment of Proceeds; Levy of Surtax On All Taxpayers
- USCode Year: 2013
Provision Content
The income-tax laws in force in the United States of America and those which may hereafter be enacted shall be held to be likewise in force in the Virgin Islands of the United States, except that the proceeds of such taxes shall be paid into the treasuries of said islands: Provided further, That, notwithstanding any other provision of law, the Legislature of the Virgin Islands is authorized to levy a surtax on all taxpayers in an amount not to exceed 10 per centum of their annual income tax obligation to the government of the Virgin Islands.
(July 12, 1921, ch. 44, §1, 42 Stat. 123; Pub. L. 94–392, §5, Aug. 19, 1976, 90 Stat. 1195.)
References in Text
The income-tax laws in force in the United States of America, referred to in text, are classified to Title 26, Internal Revenue Code.
Codification
Section is from act July 12, 1921, popularly known as the Naval Service Appropriation Act, 1922.
Amendments
1976—Pub. L. 94–392 inserted proviso authorizing Legislature of Virgin Islands to levy a surtax, not to exceed 10 per centum, on annual income tax obligation of all taxpayers.
Application of Western Hemisphere Trade Corporation Provision Under the Virgin Islands Tax Laws
Pub. L. 92–178, title III, §307, Dec. 10, 1971, 85 Stat. 524, provided that for purposes of applying the income tax laws of the United States with respect to the Virgin Islands under this section, subpart C of part III of subchapter N of chapter 1 of the Internal Revenue Code of 1954 [former 26 U.S.C. 921, 922] (relating to Western Hemisphere Trade Corporations) shall be treated as having been repealed effective with respect to taxable years beginning after Dec. 10, 1971.
U.S. Encyclopedia of Law Coverage
Subchapter I – General Provisions in the Legal Encyclopedia: Territories
In this entry about Subchapter I – General Provisions, find legal reference material, bibliographies and premiere content related to territories in the American Encyclopedia of Law, presenting a comprehensive view of the United States territories-specific issues, written by authorities in the field.
Chapter 7 – Virgin Islands in the Legal Encyclopedia: Virgin Islands
In this entry about Chapter 7 – Virgin Islands, find legal reference material, bibliographies and premiere content related to virgin islands in the American Encyclopedia of Law, presenting a comprehensive view of the United States virgin islands-specific issues, written by authorities in the field.
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