Claudette Farrington, acting director of the V.I. Bureau of Internal Revenue, has reminded corporate taxpayers that they are subject to a 10 percent surcharge on their total tax liability. This surcharge must be paid with the regular tax liability on form 1120.
Taxpayers are also reminded that the 10 percent is not deductible in computing the corporate tax liability.
Foreign and V.I. corporations must file their tax return by March 15.
Tax return forms are available at the bureau's St. Thomas office, 9601 Estate Thomas, and at 4008 Estate Diamond, Christiansted on St. Croix.
For further information call the office of the chief counsel at 774-5865, ext. 2249 or 714-9312.