St. John Tradewinds News

Deadline for Filing Franchise Taxes Is July 2 to Avoid Penalties

Lt. Gov. Osbert E. Potter

Lt. Gov. Osbert E. Potter reminds all corporations, partnerships and LLCs, whether profit or non-profit, that their franchise taxes and reports are due on/or before July 2 to avoid the assessment of penalty and interest since June 30 falls on a Saturday. The minimum franchise tax for domestic and foreign corporations is now $300.

Trade name owners are reminded to submit a renewal application and fee within the six-month window prior to the expiration date to remain valid. If the renewal requirements are not adhered to, trade name owners may lose ownership of name.

Potter also advises the public of the reinstatement of the Wednesday closures of the Division of Corporations and Trademarks, territory-wide, for preparation of files and other pertinent corporate information for scanning into a new web-based computer system. The offices will be closed on June 6, 13, 20 and July 11, 18, 25.

The division’s normal operating hours are from 8 a.m. to 5 p.m., Mondays, Tuesdays, Thursdays and Fridays.

For more information concerning office hours, annual reporting requirements for business entities or trade name registrations, contact the Division of Corporations and Trademarks at 776-8515 on St. Thomas; 773-6449 on St. Croix; or by emailing denise.johannes@lgo.vi.gov.