V.I. Code tit. 17, § 490B (2019)
2019 US Virgin Islands Code|Title 17 - Education|Chapter 34 - University of the Virgin Islands Research and Technology Park|Subchapter II - University of the Virgin Islands Research and Technology Park|§ 490B. Tax payments and incentives for Research and Technology Park tenants under § 490A(a)(3) or (4) of this chapter

 (a) Each Research and Technology Park tenant listed in section 490A(a)(3) or (4) of this chapter shall pay an annual franchise tax to the Department of Finance based on the worldwide gross receipts of the respective tenant business. Each Research and Technology Park tenant with annual worldwide gross receipts less than or equal to $1,000,000 shall be subject to a franchise tax equal to $200. Each Research and Technology Park tenant with annual worldwide gross receipts of more than $1,000,000 but less than $5,000,000 shall be subject to a franchise tax equal to $2,000. Each Research and Technology Park tenant with annual worldwide gross receipts equal to or greater than $5,000,000 but not more than $10,000,000 shall be subject to a franchise tax equal to $5,000. Each Protected Cell with annual worldwide gross receipts greater than $10,000,000 but no greater than $20,000,000 shall be subject to a franchise tax equal to $12,500. Each Protected Cell with annual worldwide gross receipts greater than $20,000,000 but no greater than $50,000,000 shall be subject to a franchise tax equal to $15,000. Each Protected Cell with annual worldwide gross receipts greater than $50,000,000 but no greater than $100,000,000 shall be subject to a franchise tax equal to $20,000. Each Protected Cell with annual worldwide gross receipts greater than $100,000,000 but no greater than $250,000,000 shall be subject to a franchise tax equal to $25,000. Each Protected Cell with annual worldwide gross receipts greater than $250,000,000 shall be subject to a franchise tax as determined by the Board but in no event less than $25,000. All other Research and Technology Park tenants shall pay the franchise tax due for the type of entity created under applicable law. (b) Each Research and Technology Park tenant listed in section 490A(a)(3) or (4) of this chapter may apply for benefits under the Economic Development Program administered by the Economic Development Authority and upon receipt of such benefits, the tenant shall present such certificate of tax benefits to the Executive Director of the Technology Park Corporation. (c) Worker Training Tax Credit. Firms eligible for the job creation or investment tax credit can take a credit of fifty percent against eligible training expenses if the firm provided training for five or more employees in the Virgin Islands. The maximum credit is $1,000 per employee. (d) Applications for tenancy. In accordance with rules and regulations of the Corporation, applications for tenancy within the Park shall be filed with the Executive Director, who shall, after reasonable investigation, inform the Board of his recommendation. After careful consideration of all the relevant factors regarding an application for tenancy in the Research and Technology Park, the Board shall make its determination. If the Board decides to approve the application, such decision shall be made subject to the Governor's approval as set forth in this chapter, and in this event the Board shall submit all relevant data and all other requested data to the Governor along with its report for the Governor's consideration.