Puerto Rico Act 20 / 22 Tax Incentives – How to Apply Yourself for $450.00 | Self-Help Resources

UPDATES

  • January 11: Submitted application online
  • January 19: Sent email on pre-evaluation status for application completion. Talked with staff indicating one person is in charge of prequalifying all apps.
  • January 21: Talked with prequalifier over phone and discovered application website was down.
  • January 26: Requested a manual review if the application website was still down. It was down 9:00 PM PST, January 25, but it seems to be back up now.
  • February 2: Called in on status update, and discovered pre-evaluation was complete. I should had received an email indicating a notarized affidavit and $750 application fees were required, but I didn’t receive that email for some reason. Mailed out via 3-Day Priority mail my notarized applications and Cashier’s checks for application fees.

DISCLAIMER: I AM NOT AN ATTORNEY OR CPA. I HAVE NOT CONSULTED ANY PROFESSIONALS, AND THIS IS BASED OFF RESEARCH ONLINE. NO ACTUAL EXPERIENCE. FOLLOW MY ADVICE AT YOUR OWN RISK!!!

 

SUMMARY
♦ 4% Corporate Tax Rate (ACT 20)

 

♦ 0% Tax on Dividends (ACT 22)

 

♦ “Source of Income” not from the US are exempt from US Federal Income Tax (https://www.irs.gov/taxtopics/tc901.html).

 

“Source of Income” defined: http://www.nd.gov/spo/connectnd/1099-information/irs-def.pdf

 

Pay yourself market salary for Arm’s Length Transactions

 

STEP 1 – CREATE CORPORATION

https://prcorpfiling.f1hst.com/CreationFilings/NameAvailability.aspx

Registered Agent

United Corporate, $250.00

info@unitedcorporate.com

$150 for Minimum Registration Fee

Bylaws & Minutes

 

STEP 2 – APPLY FOR EIN

https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online

 

STEP 3 – APPLY FOR ACT 20 & 22

https://applications.pridco.com/

– Request Access for Company & Individual

– Go through process, hit “Save Application”

– Go Back to Main Screen

– See all documents needed to Upload

 

DOCUMENTS NEEDED
Criminal Background Check (https://oag.ca.gov/fingerprints/security) ~$50
Two Commercial Bank References
Resume
Corporate Structure
Passport
Social Security Card

Find the official list here: http://www.oeci.pr.gov/SiteCollectionDocuments/Instructions%20-%20DDEC%20Online%20Applications%20Platform.pdf
TIMEFRAMES?
ACT 20: 6 months?
ACT 22: 2 – 3 Months?
=====

GOVERNMENT LINKS
http://www.oeci.pr.gov/SiteCollectionDocuments/Instructions%20-%20DDEC%20Online%20Applications%20Platform.pdf
http://www.oeci.pr.gov/Pages/Communications.aspx
http://www.oeci.pr.gov/sworn-statement-notifications

http://estado.pr.gov/en/
http://estado.pr.gov/en/formularios-para-corporaciones/
http://estado.pr.gov/en/category/entrepeneurs/

 

TIME TO ACT NOW

http://taxfoundation.org/sites/default/files/docs/fed_individual_rate_history_nominal.pdf

http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=464%2C851.00&year1=2015&year2=1950

 

MAP OF LOCATIONS

https://www.google.com/maps/d/u/0/edit?hl=en_US&app=mp&mid=zcrmk64ro1OE.k-Uy3CYn9FiM

 

Dorado & Palmas Del Mar

 

FOR RENT

http://www.point2homes.com/US/Rental-Properties-Maps/PR/Dorado-Municipality/Dorado.html?location=Dorado%2C+PR&geopicker_type=viewport&search_mode=location&PriceMax=3%2C000&PropertyType=Homes&Bedrooms=4plus&Bathrooms=2-3&page=1&selected_view=map_view&LocationGeoId=352258&viewport=-66.30441089476972%2C18.454808840353525%2C-66.28044267501264%2C18.46640015557495&zoom=17&location_changed=&ajax=1

 

YOUTUBE LINKS

https://www.youtube.com/watch?v=AT8r0EqwYHA

 

https://www.youtube.com/watch?v=SZlTaixK-W4

 

RESTAURANTS

http://www.yelp.com/search?find_loc=san+juan,+puerto+rico&start=0&sortby=review_count&cflt=restaurants&l=g:-65.86990356445312,18.62248950625186,-66.28189086914062,18.231627019246293

 

ACT 20

http://www.portocapital.com/puerto-rico-act-20-tax-incentives-export-services-act-tax-incentives-legislations/

 

http://www.prinvestmentsummit.com/featured-speakers-pris.php

 

http://puertoricotaxincentives.com/act-20-export-services-act/

 

ACT 22

http://taxlawsolutions.net/articles/2014/PRIDCO%20Presentation%20-%20Tax%20incentives%20for%20export%20sercies%20and%20resident%20investors%20in%20Puerto%20Rico.pdf

 

http://www.portocapital.com/puerto-rico-act-22-tax-incentives-legislations-individual-investors-act/

 

OTHER LINKS

http://www.nestmann.com/articles/prtaxes.htm#.Vor_5RUrIuU

 

http://edition.cnn.com/2014/03/22/us/puerto-rico-migration-economy/

 

http://premieroffshore.com/blood-in-the-streets-offshore-tax-planning/

 

https://www.quora.com/Would-you-recommend-Act-20-22-Puerto-Rico-which-offers-100-tax-exemption-on-capital-gains-and-4-corporate-tax-to-an-individual-entrepreneur-with-an-online-business-generating-500k-1m-per-year-in-taxable-income

 

http://www.internationalman.com/articles/why-i-really-moved-to-puerto-rico-and-you-should-too

 

PALMAS DEL MAR

 

Dorado Beach, a Ritz-Carlton Reserve

Peter Schiff moved there

http://schiffgold.com/key-gold-news/cnn-money-talks-to-peter-schiff-puerto-rico-the-next-singapore/

 

http://money.cnn.com/2015/08/05/investing/puerto-rico-tax-exemptions-billionaire/

 

http://www.ritzcarlton.com/en/Properties/DoradoBeach/Information/Directions/Default.htm

 

ACT 74

http://businessinpuertorico.com/documents/ACT-74-PG.pdf

 

#17 – Peaceful Parenting, Rethinking Paradigms, Challenging Spanking

PEACEFUL PARENTING / THOUGHTFUL PARENTING / PARENTING WITH PURPOSE

 

 

  • Throw out “how you were raised”, and try and build a parental strategy from the ground up.
  • Different times
  • Lots of things we take for granted are not based on objective reality, but emotional convenience

 

 

PERSONAL AWAKENING

 

 

  • What kind of relationship do I eventually want with my kids?
  • Love
  • Mutual Respect
  • Accepting each other’s humanity
  • Good Friends
  • Based on Fear or on Reason?

 

 

 

  • What kinds of skills do my kids need to make it in the real world?
  • Critical Thinking
  • Questioning Everything (especially established norms)
  • Determining what is objective reality
  • Reasoned logic
  • Self-Aware of own biases
  • Always Learning

 

 

 

  • How you see the State is often a reflection of how you view parenting, and vice versa?

 

 

 

  • Previous Parenting Philosophy
  • Current Parenting Philosophy: Consultant / Guide

 

 

 

  • Moral Hypocrisy of Churches, military, & the State
  • Living a life consistent with Principles

 

 

 

  • Reliving Past Childhood Trauma

 

 

 

  • Self-Aware of my own selfishness
  • Shower with Jack
  • Empathy

 

 

KEY CONCEPTS

 

 

  • Drill Sergeant vs. Hippie

 

 

 

  • Third-way: Consultant / Guide

 

 

 

  • Logical Knowledge

 

 

 

  • Computer Analogy
  • Hardware (Developing)
  • Software (Self-Aware AI)

 

 

 

  • Artificial vs. Natural Consequences

 

 

 

  • Self-Discipline (internal) vs. Obedience (external)

 

 

 

  • Parental Strategy
  • Early ages, much more physical restrictions
  • As Hardware develops, allow more freedom in software

 

 

 

  • Empathy

 

 

 

  • Self-Awareness

 

 

 

  • “Do as I say, not as I do” – Parental Moral Hypocrisy

 

 



APPLICATION

 

 

  • Spanking as a Tool
  • Pluses and Minuses

 

 

 

  • Christmas Gifts

 

 

 

  • Bedtime

 

EDUCATION

 

 

  • Different Podcast?

 

 

 

  • Going backwards with end objective in mind

 

 

MORE INFORMATION

 

 

  • SchoolSucksProject.com

 

 

 

  • Facebook Groups

 

 

Puerto Rico Gun Laws 2nd Amendment Ruling Appealed

You may recall back in June 2015, that Puerto Rico was having its gun restrictions challenged: https://www.saf.org/saf-lauds-puerto-rico-court-victory-for-gun-rights/

I don’t speak Spanish, so I have no idea what’s going on exactly, except I’m guessing the news from June was appealed and without a preliminary injunction, the laws seem to remain unchanged. At least when it comes to the gun stores, I gather they are selling guns still under the old rules. If you want to verify, you can contact a gun store directly in Puerto Rico.

Yeah, I know it’s sad that I’m having to sleuth around like this, but I couldn’t find any decent Google results outside of the June articles!

Here are some news articles I found by checking out Facebook links for a Puerto Rican gun store you can use Google Translate to get some updates:

SOURCE: http://elvocero.com/incierta-la-portacion-de-armas/

Much to plow in changes to the Firearms Act

With the court decision takes steps to countless questions about how will be the next steps and what citizens should do to complete the process of carrying arms

 

By Paola Guzman Arroyo spokesman 4:04 a.m.

Editor’s Note: Part of the special report “Latent changes in Arms Act”, which covers the details related to the controversial law. Expected tomorrow the second part, where a smuggler reveals details of how guns move in the underworld

The determination of the Court to declare unconstitutional five articles of the Firearms Act, which govern the process to possess and carry firearms, are precisely not final or firm.

On the judge’s decision, the chairman of the Judiciary Committee, Security and Veterans of the Senate, Miguel Pereira said in an interview to the spokesman that the decision still does not give way to changes in the law.

“I think the judge exceeds his function declaring unconstitutional articles I am a judge of First Instance.We must understand what the true role of firearms, “said the president.

Pereira confessed he has no controversy with the Court’s assessment, but said that we must contemplate the consequences of having a gun and “if we in the name of security of our family will carry an element so incredibly dangerous.”

The order issued by the judge Lugo Anibal Irizarry determines that replacing the administrative process, all arms buyer follow the weapons registration process enacted in federal law through the Transaction Log Firearms carried out by the Bureau Alcohol, Snuff, Firearms and Explosives (ATF, for its acronym in English).

For his part, Secretary of the Department of Justice Cesar Miranda said that among the risks of declaring unconstitutional articles is the elimination of the minimum age of 21 to possess weapons and announced that requested a review of court last week.

Miranda said the judge proposed that the inquiry procedure that prevents addicts, habitual drunk, people with violent records and individuals with restraining orders against them, would be ineffective.

“It should be clear that the determination of the judge is final and binding, has no immediate effect and remains in force Law 404 of 2000 (Law on Firearms). Therefore, it is still a crime gun sales and possession and carrying duty without a license as required by law, “Miranda said in a written statement.

Rekindled the determination of the court, the coming changes will challenge the need to submit certification of criminal records and that can be achieved through the portal of the Federal Bureau of Investigation (FBI) “National Crime Investigations Center”.

At the same time, there will have to be presented as other certificates of debt not the Treasury Department or the Child Support Administration (ASSUME) and as to the number of vouchers required for licensing.

The legal battle is wedged into thinking that carrying a gun is a fundamental right protected by the Second Amendment to the US Constitution and should not be heavily regulated.

For the owner of the armory AAA Gun Shop & Club, Victor Gonzalez, unsafe scene after the court’s determination only means that he will continue to fight for the determination of the judge Salinas prevail, as it understands that keep and bear arms is a fundamental right.

“Expectations are very high because the Department of Justice nor answered the demand at the time, but took into consideration. You ask for an appeal is when you ask the appeal and we will ask the Supreme certifying that they go and if we are going to nickname for the Supreme, “said Gonzalez.

Gonzalez claimed that the only beneficiaries of the high cost of the process of taking related to weapons that would prevail challenged the decision of the judicial forum permits are government pledge and not necessarily the person you want to ensure their own safety.

The duration of approval of the application may exceed five months. Puerto Rico Police issued 17,833 licenses for firearms possession in 2014.

Likewise, the spokesman for the organization of the Ladies of the Second Amendment, Sandra Barreras said the prevalence of amendments “represent equity.”

“We have our right to enjoy it as our brothers in the nation, we seek equal rights implementation” Barreras said in a written statement.

About people who say it’s dangerous, the vice president said that “just as dangerous are cars, are present only on the strength of a third inanimate objects. More dangerous are the criminals that haunt us to take our lives. ”

“The state I ask you to stop lying to the people. I do not know if the federal system do not know or who lie to people with any purpose to maintain a taboo against the law, “said Barreras.

“The federal system ATF is used in Puerto Rico since 1968, the same used by the police to verify the records of people and the same that use the armories to see if you can sell a gun to the person requesting” said the spokesman.

The association made ​​a documentary to explain the amendments made ​​by the court. See it here .

 

I couldn’t find any updates except on a Puerto Rican gun store’s page in Spanish, which if translated states:

Appeal of ELS (Class Action)

As expected the court today filed an appeal to the court’s decision declaring the law unconstitutional weapons. Then the document .

Here’s a link to the original document: https://www.bullseyegunshoppr.com/wp-content/uploads/2015/09/Jonathan-Rodr%C3%ADguez-v.-ELA-Apelaci%C3%B3n.pdf

MIRROR: https://drive.google.com/file/d/0B-cDQtOT6qJIVHVDVVNYU0JBX0E/view?usp=sharing

HORRIBLE ENGLISH TRANSLATION VIA GOOGLE TRANSLATE: https://docs.google.com/document/d/1zrikhzHFyooSeLeKEF5tt5GW1BhMXvhM2L_IrtRQHnk/edit?usp=sharing

On Intellectual Discourse & Expectations

When you look at reality from a view that there exists moral absolutes (Moral Absolutism) and that one can come to a better understanding of what those moral absolutes are based on rational discourse, you quickly realize you’re in the small minority of people who actually believe that.

In fact, the mere act of searching for Truth through questioning various positions is met with Ad Hominem attacks from those who believe that all truths are just as valid as any other truth claims (Moral Relativism).

And there are those who are Moral Absolutists, but disconnect it from the intellect: “And honestly, I’m not particularly interested in engaging in a drawn-out intellectual debate on the subject because to me this isn’t an issue of intellect, it’s of basic humanity, compassion, and empathy.”

The disconnect of intellect with Moral Absolutes means that the only means one can come to an understanding of these Moral Absolutes is to simply take it entirely by “faith” or “emotion.” Which morality ultimately “wins” rests entirely by appealing to the changing sands of emotional & cultural predispositions.

Considering the condition of today’s politics and thinking patterns of the world throughout history to the present, it is I who am irrational to have the expectation that most of my colleagues use rational means, rather than emotion, to ultimately address these moral principles.

Would you rather be right, and be alone? Or would you rather live contrary to your Principles, and be embraced by the World?

I’ve already made that choice long ago.