Puerto Rico's Act 60 has garnered attention as a unique and powerful tax incentive that transforms the island into a magnet for high earners seeking to minimize their tax burdens. Enacted in 2019, Act 60 consolidated and replaced several earlier tax laws, including Acts 20 and 22, offering attractive benefits to both businesses and individual investors. Its primary goal is to stimulate economic development on the island, but its practical effect has been to turn puerto rico tax incentives act60 into a haven for wealthy individuals looking for relief from federal and state taxes in the mainland United States. One of the key reasons high earners are drawn to Puerto Rico is the opportunity to legally reduce or eliminate their capital gains tax. For more info click here #taxincentivespuertorico
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