Act No. 8399 (33rd Legislature) — An Act amending title 11 Virgin Islands Code, chapter 23, relating to the Small Business Development Agency by adding a section 1266 to prov
ACTNO. 8399 BILL NO. 33-0355 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2020 An Act amending title 11 Virgin Islands Code, chapter 23, relating to the Small Business Development Agency by adding a section 1266 to provide an income tax deduction to small businesses that employ persons with disabilities ---0--- Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Title 11 Virgin Islands Code, chapter 23 is amended by adding a section 1266 that reads as follows: “§ 1266. (a) A small business concern that hires persons with disabilities is entitled to receive an annual income tax deduction of five percent of the annual salary of the person with disabilities. To qualify for the deduction, the small business’ concern must have employees with disabilities who work not fewer than 20 hours per week. (b) The annual income tax deduction for a small business provided in subsection (a) of this section applies only to new hires and is offered for a period not to exceed five years. …
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