Bill seeks to raise small biz GRT exemptions - KUAM.com-KUAM News: On Air. Online. On Demand.

Bill seeks to raise small biz GRT exemptions

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by Mindy Aguon

Guam - Hoping to give small businesses a boost in the current economy, Senator Judi Guthertz has proposed to raise Gross Receipts Tax exemptions from the current $40,000 to $100,000. Bill 283 would amend current law, formerly known as the Dave Santos Act, and includes a provision that requires the exemptions be revisited in three years.

Blue River Information Technology director Matt Hempel and Community First president and CEO Gerry Cruz support the measure saying it would allow businesses to grow and hire more workers. "I think any raising of the exemption level is a good idea," Hempel noted. "$100,000 is certainly reasonable; I would support it reasonably." And Cruz chimed in with, "I don't seen a controversy with it, it's gong to help save the small business person and I can only expect good things."

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