Virgin Islands (USA) Information about minimum wage and taxes.

Information about minimum wage and taxes in the Virgin Islands is as follows: Minimum Wage: Minimum wage in the Virgin Islands is established by the Federal Minimum Wage Act. In 2021, the hourly minimum wage is set at $

10.50. However, the minimum wage for workers in some sectors (such as restaurants, hotels, retail) may be lower. Taxes: Various taxes are imposed in the Virgin Islands, such as income tax and sales tax. Income Tax: Income tax rates in the Virgin Islands vary depending on income level. Income tax rates in 2021 are as follows: - 10% for income between $0-41,550 - 15% for income between $41,551-$83,100 - 25% for income between $83,101-$207,350 - 33% for income between $207,351-$518,400 - 35% for income of $518,401 and above Sales Tax: In the Virgin Islands, the sales tax rate is 4%. This tax is paid on purchases made by the consumer. Employer Taxes: Employers pay various employer taxes in the Virgin Islands. These taxes include unemployment tax, labor insurance tax and social security tax. Other Taxes: There are also other taxes in the Virgin Islands, such as property tax, vehicle tax, and investment income tax. This information is a general summary. There may be changes in matters such as tax rates and minimum wage, so it is important to be aware of current tax tables and legal regulations.

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