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.
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.
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
DEPARTMENT OF REVENUE AND TAXATION
FORM GRT-1 (0720v9)