Senator Aguon's bill would give local businesses a tax credit

July 11, 2017 Valerie Maigue

With the hopes of increasing production of locally made goods and services, Senator Frank B. Aguon Jr. has introduced legislation giving these businesses a tax credit. The 25% tax credit would amount to what businesses earned in the most recent tax year or up to $2,500 per year - whichever is less. The tax credit would apply annually as long as the business maintained a valid Guam Product Seal Permit. "If we provide tax incentives, it would lead to creation of either new bu...

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