0
What taxes would Puerto Rico have to pay if they became a state?
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoFederal Income tax.
Add your answer:
Earn +20 pts
How would the us be different if Puerto Rico became a state?
there would be lots of spanish talking
How many electoral votes would there be if Puerto Rico became a state?
Between 7 and 8.
How many senate members would come from Puerto Rico?
Two if it became a US State.
What bennefits would Puerto Rico get if it was a state?
The largest benefit Puerto Rico would gain by being admitted to the union as a State is representation in government. Right now Puerto Rico has one non-voting representative in Congress, and no say in Presidential elections. With statehood, Puerto Rico would have about 6 voting representatives in the House, and 2 Senators along with about 8 Electoral votes in a presidential election. With Statehood, Puerto Rico would receive much more federal money for all sorts of social programs and infrastructure improvements. Puerto Rico would also have more control over its own ports and territory. On the other side of the coin, statehood would mean that Puerto Ricans would lose the federal income tax exemption. Puerto Ricans pay prenty of federal and local taxes, but are exempt from most federal income taxes right now. There is also a cultural argument against statehood. Puerto Ricans are very proud of their Spanish heritage and do not want lose it.
Which US state is closest to puerto vallarta?
Texas would be such state.
Do us citizens pay federal taxes in Puerto Rico?
Puerto Rico is classified by the U.S. government as an independent taxation authority by mutual agreement with the U.S. Congress. A common misconception is that residents of Puerto Rico do not have to pay federal taxes. Residents of the island pay federal taxes (import/export taxes, federal commodity taxes, social security taxes, etc.) and some even pay federal income taxes (Puerto Rico residents who are federal employees, or who do business with the federal government, Puerto Rico-based corporations that intend to send funds to the U.S., etc). While most residents of the island do not pay federal income tax, they do pay federal payroll taxes (Social Security and Medicare), as well as Puerto Rico income taxes. In addition, because the cutoff point for income taxation is lower than that of the IRS code, and because the per-capita income in Puerto Rico is much lower than the average per-capita income on the mainland, more Puerto Rico residents pay income taxes to the local taxation authority than if the IRS code were applied to the island. Puerto Rico residents are eligible for Social Security benefits upon retirement. Puerto Rico is excluded from Supplemental Security Income (SSI). Puerto Rico receives less than 15% of the Medicaid funding it would be allotted as a state."
Can counties collect local sales taxes in place of state sales taxes?
It would depend on your state law. But in most places, counties collect sales taxes in addition to state sales taxes.
Where do you go to get citizenship in puerto rico?
You would get in the US State Department, since Puerto Ricans are American citizens.
What percentage is taken out of a paycheck for state taxes?
it would depend on the state
Why isn't Puerto Rico added as the 51st state?
While some residents of Puerto Rico do want statehood, many are happy with things the way they are, and there is one faction that would like to see Puerto Rico become an independent country. Puerto Rico is currently a commonwealth and a dependent territory of the United States, which means that its citizens are also U.S. citizens, but they pay no U.S. federal income tax, nor can they vote for president. Some people in Puerto Rico speak English, but the vast majority speak Spanish as their first language. If Puerto Rico became a state, there would have to be a major increase in the number of citizens who are fluent in English (since all official business in the United States, including business in Washington DC, is conducted in English); also, people would have to pay federal taxes and no longer receive business exemptions that are given to a U.S. dependency. That may explain why on four separate occasions, the citizens of Puerto Rico voted against becoming a state and expressed their preference for the status quo.
Can counties collect local sales tax in place of state sales taxes?
It would depend on your state law. But in most places, counties collect sales taxes in addition to state sales taxes.
Why Puerto Rico becoming a state?
Puerto Rico doesn't become a state because it is not an important issue in congress. The subject was brought up in congress by Hon. Pedro Pierluisi of Puerto Rico in 1998 but never carried out. Although there are 4 million people there and a large portion of them are American or white, the subject just doesn't have much significance. If they became a state we would have to fund them and America is not ready for this at the moment considering we have massive amounts of debt and have entered a recession.
