Less than $500 at end of quarter:
If at the end of the quarter your total undeposited taxes for the quarter are less than $500, you do not have to deposit the taxes. You may pay the taxes with Form W-1 or you may deposit them by the end of the next month. $500 or more but less than $3,000 at end of any month:
If at the end of any month your total undeposited taxes are $500 or more but less than $3,000, deposit the taxes within fifteen (15) days after the end of the month.
If your taxes are less than $500, carry them over to the next month. (This deposit requirement does not apply if you made a deposit for an eighth-monthly period during the month under the $3,000 rule).
$3,000 or more at end of the eighth-monthly period:
If at the end of any eighth-monthly period your total undeposited taxes are $3,000 or more, deposit the taxes within three (3) banking days after the end of the eighth-monthly period.
Eighth-monthly periods end on the 3rd, 7th, 11th, 15th, 19th, 22nd, 25th and last day of each month. (Do not count as banking days legal holidays observed by authorized financial institutions, Saturdays and Sundays).
Gross Receipts Tax:
All individuals and entities doing business or performing services on Guam are subject to a four percent (4%) gross receipts tax. This tax is levied on the gross receipts from business or professional services on Guam.
The tax is to be reported and paid no later than the 20th day of the month following the month in which the gross receipts were received or accrued, depending upon the accounting method elected by the taxpayer.
The first $1,200 of rental income in a year is exempted.
Banks and lending institutions are taxed on annual net income. Reports for banks and lending institutions are due on the 90th day following the taxpayer's tax year.
Use Tax:
All personal property imported into Guam for use or consumption by the person importing it is subject to four percent (4%) tax on the landed cost. Property imported for resale is not subject to this tax.
The tax does not apply to property having had a substantial use by the person bringing it into Guam before importation, or to machinery and other moved when the contract or other work is completed.
No tax is imposed when the total value of all property imported by any one person in any one calendar month is $100 or less.
Purchase of personal property on Guam for use or consumption from a person not liable for Gross Receipts Tax is also subject to the four percent (4%) use tax. The $100 exemption also applies to such purchases.
Real Property Tax:
A real property tax is levied upon land at a fixed rate of one-half percent (1/2%) of the assessed value, which is thirty-five percent (35%) of the appraised value, or an "economic rate" of 0.175%; the tax on improvements is a fixed rate of one percent (1%) of the assessed value which is thirty-five percent (35%) of the appraised value or an "economic rate" of 0.35%.
- Properties which are used exclusively for educational; religious or eleemosynary purposes are exempt from Real Property Taxes.
- A home owner, provided he is occupying the home, may apply for a home exemption up to $15,000 of the appraised value.
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