Form 241vi Information To Support Claim For Subsidy Of 100% Of Income Taxes Paid On Virgin Islands Lottery Winnings Included In Gross Income Page 2

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INSTRUCTIONS
IMPORTANT NOTICE:
All prize winnings in the Virgin Islands Lottery for the taxable year must be included in your income tax return
as “Miscellaneous Income”. The full tax must be paid without any reduction on account of the inclusion of these
Winnings.
Section 934 of the Internal Revenue Code prohibits the reduction or the remitting in any way, either directly or indirectly or
by way of subsidy, the income tax liability incurred to the Virgin Islands under the Internal Revenue Code, except in the
case of individual citizen of the United States who is a bona fide resident in the Virgin Islands during the entire taxable
year, provided he furnishes such information as may be required to such claim.
If you are entitled to the subsidy of the taxes paid on your winnings, this form must be completed and filed in duplicate with
your tax return. Payment will be made upon verification of the information submitted. The subsidy can only be paid on
prizes won in the June 29, 1971 lottery and subsequent lotteries, the date it went into effect accordance with V.I.C. Title 33
Section 250 (b) and (c).
_________________________________________________________________________________________________
Computation of Subsidy
a.
Total winnings from the Virgin Islands Lottery
$______________________________
b.
Total Taxable Income (including lottery winnings)
$______________________________
c.
Tax liability incurred to the U.S. Virgin Islands
$______________________________
d.
Add credit allowed under Section 901(a) of the
Internal Revenue Code
$______________________________
e.
Total of (c.) and (d.)
$______________________________
f.
Multiply (e.) by (a.)
$______________________________
g.
Divide (f.) by (b.)
$______________________________
h.
Amount of subsidy – the lesser of the amount shown in
(c.) or (g.)
$______________________________
Approved for payment:____________________________________
Date:__________________________
Date Paid: _______________________
Check No:_______________________
/dapn

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