US Virgin Islands Offers Substantial Income Tax Savings to Business Investors

A quick summary of the U.S. Virgin Islands Economic Development Commission income tax exemption program by former counsel to the Commission, Solomon Blum Heymann partner William L. Blum, Esq. The “EDC” program has existed in one form or another since the 1960s and has provided U.S. companies and individuals with hundreds of millions in tax benefits. This article summarizes the benefits and the basic requirements to reduce your tax liability by taking advantage of the program.