Individuals who are citizens or residents of Guam are required to report their income from all sources when computing their Guam taxes. Their income taxes must be paid into the Treasury of Guam. Non-residents except those who acquired their U.S. citizenship through the Organic Act, or through naturalization proceedings in the District Court of Guam, incur income tax liability to Guam only on income derived from Guam sources. Self-employed individuals who are covered by the Federal Old Age Insurance and Schedule C of individual income tax return Form 1040. A U.S. citizen who is a resident of Guam at the last day of the taxable year (usually December 31) will be required to file an individual income tax return in Guam reporting his or her worldwide income. In such case the U.S. Internal Revenue Code provides that no return need be filed with the U.S. Internal Revenue Service.
Guam individual tax rates are the same as those in the U.S. Internal Revenue Code and can be found in Section 1 of the Guam Territorial Income Tax Law. Guam corporations are subject to income tax on their income from all sources. Other corporations doing business on Guam incur income tax liabilities to Guam on all Guam source income. Corporations not engaged in business on Guam are liable to a 30% tax on certain types of income from Guam sources. The tax rates for corporations doing business on Guam can be found in Section 11 of the Guam Territorial Income Tax Law.
For IRS filing information regarding Guam, click here.
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