Municipal License Tax Discounts from the Municipality of Ponce
An McV Tax Alert
The Municipality of Ponce (“Ponce”) issued Municipal Ordinance No. 17, Series 2016-2017, to provide taxpayers subject to municipal license taxes in Ponce additional discounts for the early payment of the municipal license tax (“MLT”) for fiscal year 2017-18.
Pursuant to the Municipal License Tax Act (“MLTA”), the total MLT may be paid with the Volume of Business Declaration (“Declaration”), which is generally due on or before 5 business days following every April 15th. Taxpayers that pay the total MLT with the Declaration are granted a 5% discount. Otherwise, the MLT may be paid without the 5% discount in two installments which are due by July 15 and January 15 following the filing of the Declaration.
Ponce will grant additional discounts on the 2017-18 MLT to taxpayers that file their 2017-18 Volume of Business Declaration (“2017 Declaration”), or request for extension of time to file such declaration (“Extension”), and remit the corresponding MLT payment as follows:
- 5% additional discount for taxpayers that file the 2017 Declaration or Extension and pay the total MLT on or before January 15, 2017; or
2% additional discount for taxpayers that file the 2017 Declaration or Extension and pay the total MLT on or before March 15, 2017.
The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.