Commonwealth of Northern Mariana Islands: Living There - Tax Issues
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INDIVIDUAL TAXATION
Residents are taxed on their worldwide income. Married couples generally file joint income tax returns but they may opt for separate taxation.
Visas are not required to gain entry in CNMI however the Government requires national of various countries to present certain document and/or acquires other related permits. For those who wish to gain entry to conduct business entry permits and certificates may be obtained depending on how long one wishes to stay.
INCOME TAX
The ‘Northern Marianas Territorial Income Tax (NMIT)’ is actually mirror tax laws of the United States. Income is taxed at progressive rates.
NORTHERN MARIANAS TERRITORIAL INCOME TAX |
|
| TAXABLE INCOME, US$ | TAX RATE |
| Up to US$1,000 | 0% |
| US$1,000 - US$5,000 | 2% |
| US$5,000 - US$7,000 | 3% |
| US$7,000 - US$15,000 | 4% |
| US$15,000 - US$22,000 | 5% |
| US$22,000 - US$30,000 | 6% |
| US$30,000 - US$40,000 | 7% |
| US$40,000 - US$50,000 | 8% |
| Over US$50,000 | 9% |
| Source: Global Property Guide | |
Income, other than employment-sourced income, is subject to the territorial income tax.
RENTAL INCOME
In addition to NMIT, rental income tax is subject to earnings tax. Earnings tax is imposed at the same progressive rates as the NMIT.
EARNINGS TAX |
|
| TAXABLE INCOME, US$ | TAX RATE |
| Up to US$1,000 | 0% |
| US$1,000 - US$5,000 | 2% |
| US$5,000 - US$7,000 | 3% |
| US$7,000 - US$15,000 | 4% |
| US$15,000 - US$22,000 | 5% |
| US$22,000 - US$30,000 | 6% |
| US$30,000 - US$40,000 | 7% |
| US$40,000 - US$50,000 | 8% |
| Over US$50,000 | 9% |
| Source: Global Property Guide | |
CAPITAL GAINS
Earnings or gains from the sale of personal property within the CNMI are further subject to earnings tax. Earnings tax is imposed at the same progressive rates as the NMIT.
EARNINGS TAX |
|
| TAXABLE INCOME, US$ | TAX RATE |
| Up to US$1,000 | 0% |
| US$1,000 - US$5,000 | 2% |
| US$5,000 - US$7,000 | 3% |
| US$7,000 - US$15,000 | 4% |
| US$15,000 - US$22,000 | 5% |
| US$22,000 - US$30,000 | 6% |
| US$30,000 - US$40,000 | 7% |
| US$40,000 - US$50,000 | 8% |
| Over US$50,000 | 9% |
| Source: Global Property Guide | |
Commonwealth of Northern Mariana Islands - more data and information
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