The government of the U.S. Virgin Islands said in a court filing on Friday that it is seeking at least $190 million in penalties from JPMorgan Chase for the bank’s failure to detect and report ...

Most federal taxes on rum are handed to the governments of Puerto Rico and the U.S. Virgin Islands — a crucial way they fund their local governments. Recently, the program isn't working as intended.

The U.S. Virgin Islands government and a private credit firm with ties to lawmakers have pushed for an exemption criticized by tax experts. June 14, 2025. 9 min. Summary.

When you buy a bottle of rum in the United States, by law nearly all the federal taxes on that rum must be sent to Puerto Rico and the U.S. Virgin Islands. It's an unusual system that Congress ...