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Thread: Income Tax in Puerto Rico?

  1. #1
    Member Hippy Kid's Avatar
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    Default Income Tax in Puerto Rico?

    Hi, I don't know if any of you know the answer to this question...

    In Puerto Rico, you don't pay Federal Income Tax unless that income is derived from sources outside PR. At least in my understanding...

    So, the big question is, if, hypothetically, one was living in and camming from Puerto Rico, would that income source count as from inside the island, or from outside, because the customers and/or streaming site are based elsewhere?

    If you were getting your income from camming in PR, this is kind of a many thousand dollar question, as I understand it.

    Are there any camming Puertorriqueños here who might know the answer to that one?

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    Banned Melonie's Avatar
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    Default Re: Income Tax in Puerto Rico?

    ^^^ outside ... unless the official address of the webcam host's place of business and paying bank are based in Puerto Rico. The IRS is most likely going to receive a 1099 issued by a division of the webcam host company bearing a continental US address.

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    Member Hippy Kid's Avatar
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    Default Re: Income Tax in Puerto Rico?

    Ok. That's what we thought, but just wanted to check!

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    Default Re: Income Tax in Puerto Rico?

    You are still subject to Social Security and Medicare taxes. Thus if you are self employed in PR, you still have to pay 15.3% of your income in self-employment taxes.

    Even if you don't pay federal income tax, you are liable to Puerto Rico for Commonwealth Income tax. PR has much lower exemptions than if the federal tax applied.

    Also, you have to reside in PR the entire year. Not just more than 180 days. If you move out of PR during the tax year, and you have been a bona fide resident of PR for two years or more previously, you may exclude your PR source income for the portion of the year you lived in PR in which you moved out.

    HTH
    Z

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    Member Hippy Kid's Avatar
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    Default Re: Income Tax in Puerto Rico?

    Awesome, thanks! You guys seem pretty tax savvy. I know about the other taxes and such,,I was just unsure about where the source would be considered to be.

    Thanks again!

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