Certified Public Accountants and Consultants
With decades of experience and an unwavering commitment to excellence, Llano Morales CPAs PSC is a comprehensive, 360° professional services firm providing integrated solutions in audit, accounting, tax, consulting, estate planning, and succession advisory. We are highly knowledgeable in Puerto Rico’s Act 60 Incentive Code and guide our clients with clarity on the realities and opportunities of doing business on the island.
Why choose us?
Experience and Knowledge
Personalized Approach
Integrity and Ethics
Proven results
Puerto Rico Tax Incentive Code Law 60 (Including former Act 20 and 22)
Act 60 Incentives Advisory Services
At Llano Morales CPAs PSC, we offer specialized support for individuals and entities seeking to benefit from the tax incentives provided under Puerto Rico’s Act 60 (Incentives Code). Our firm is actively engaged with clients across key incentive areas, including private equity funds, green energy, youth entrepreneurship, export services, manufacturing, creative industries, research and development, and financial services.
Export Services & Commerce
Benefits:
• Income Tax: A fixed rate of 4% on eligible income. New small businesses may qualify for a 2% rate for the first five years.
• Dividends: 100% exempt from Puerto Rico income tax.
• Property Taxes: Up to 75% exemption on real and personal property taxes.
• Municipal License Tax: Up to 50% exemption on municipal taxes.
• Tax Exemption Period: 15 years, with a potential 15-year extension.
Manufacturing Incentives
Benefits:
• Income Tax: A fixed rate of 4% on industrial development income.
• Property Taxes: Up to 75% exemption on real and personal property
• Municipal License Tax: Up to 75% exemption on municipal taxes.
• Import Duties: Exemption on import duties for raw materials and machinery used in manufacturing.
• Export Incentives: Income generated from exporting manufactured goods qualifies for the 4% tax rate.
Tourism & Hospitality
Benefits:
• Income Tax: Up to 4% for new tourism businesses.
• Property Taxes: Up to 90% exemption on property taxes for eligible projects.
• Municipal Taxes: Up to 75% exemption on municipal taxes.
• Construction Excise Tax: Up to 75% exemption on construction-related taxes.
• Imported Materials: Up to 100% exemption on taxes for imported materials and equipment used in eligible projects.
Doing Business in Puerto Rico
Opportunities, Challenges, and Strategic Entity Planning
Puerto Rico offers unique business advantages due to its political relationship with the United States and its attractive tax incentive programs under Act 60 (formerly Act 20/22). However, navigating the island’s regulatory, tax, and operational environment requires careful planning and local expertise.
At Llano Morales CPAs PSC (LMCPAS), we guide entrepreneurs, investors, and companies through every stage of doing business in Puerto Rico—from entity selection and tax structuring to compliance and strategic consulting.
