DEPARTMENT OF REVENUE AND TAXATION Page 2 of 2
GOVERNMENT OF GUAM
FORM GRT-1 MONTHLY GROSS RECEIPTS, USE AND OCCUPANCY TAX RETURN
WORKSHEET A – Enhanced Limited Exemption for Certain Small Businesses (LECSB) — P.L. No. 35-90 (enacted 06/26/2020; expires 06/26/2022)
Instructions: Use this worksheet to compute the 2% LECSB reduction effective January 1, 2020.
A. Was your gross annual income (the aggregate gross receipts value of all activities) for the most recent (prior)
calendar year at least $50,000 and less than or equal to $500,000?
____NO. STOP, Do Not Proceed to Step B. You do not qualify for LECSB during this calendar year.
____YES. Continue.
B. Do you have taxable amounts on Part 1, lines 2C, 3C, 4C, 5C, 6C, 7C or 8C?
____NO. STOP. You do not qualify for LECSB for this month.
____YES. Continue.
2. $250,000
4.________________
5.________________
6. ________________
7.________________
1. Combine the taxable amounts on Part 1, lines 2C, 3C, 4C, 5C, 6C, 7C and 8C
2. Maximum Annual LECSB Limitation subject to 3% GRT rate
3. Total LECSB Income received in prior months of the current calendar year 3._____________
4. Subtract line 3 from line 2 and enter here, but not below zero
5. Enter smaller of line 1 or 4. This is the current month’s LECSB Income subject to 3% rate
6. Multiply line 5 by 2%. This is the reduction amount. Enter here and on Part 1, line 14a.
7. Combine lines 3 and 5. You will need this amount to complete this worksheet for the
next month of your calendar year if the amount on line 7 is less than $250,000.
LECSB Year End Reporting Requirement
How many Employees were hired as a
result of LECSB?
EXPLANATION OF CHANGES: In the space provided below, please tell us why you are filing an amended return. Attach any
supporting documents.
DEPARTMENT OF REVENUE AND TAXATION
FORM GRT-1 (0720v9)
