Jim Wesberry flipped this story into Legal Corruption•2037d
LEGAL CORRUPTION IN PUERTO RICO ----
---- RIQUISIMO--- for a very, very few:
"More than 1,500 mainlanders have established residency here since 2012, when the island rebranded itself as a tax haven... In 2012, Puerto Rico...passed two laws intended to make the island a “global investment destination.” Act 20 allows corporations that export services from the island to pay only 4 percent tax. Act 22 goes much further: It makes Puerto Rico the only place on U.S. soil where personal income, capital gains, interest, and dividends are untaxed. In order to qualify for Act 22, individuals must prove to the IRS that they have become bona fide residents of Puerto Rico, without “close contacts” on the mainland...the law requires at least 183 days a year on the island" (NOTE: I post this with apologies to my Puertorican son-in-law and my other Puertorican friends, who are not responsible for this fiasco of legalized corruption. -JW)