FSM Gross Revenue Tax (GRT) Calculator
Official statutory calculation under Title 54, Chapter 1 of the Code of the Federated States of Micronesia (FSMC). Compute the $80 flat base tier, 3.0% turnover tax on revenue exceeding $10,000, and quarterly payment schedules in US Dollars ($).
Business Turnover & Filing Cycle
Total revenue collected from sales, services, or trade before deductions.
At least 50% of revenue is distributed back to the state treasury.
Quarterly Installment: $582.50 per quarter (due quarterly)
• Filing Deadlines: April 30, July 31, October 31, and January 31.
• Penalty for Late Filing: 10% per month of delinquent tax plus interest (1% per month) under Title 54 FSMC.
• No Deductions: Expenses cannot be deducted from gross receipts for GRT purposes.
Gross Revenue Tax Brackets vs Turnover (Title 54 FSMC)
| Annual Gross Revenue | Base Tier Tax | 3.0% Tax on Excess | Total GRT Due | Quarterly Payment | Effective Rate |
|---|---|---|---|---|---|
| $10,000 (Base Cap) | $80.00 | $0.00 | $80.00 | $20.00 | 0.80% |
| $50,000 | $80.00 | $1,200.00 | $1,280.00 | $320.00 | 2.56% |
| $100,000 | $80.00 | $2,700.00 | $2,780.00 | $695.00 | 2.78% |
| $250,000 | $80.00 | $7,200.00 | $7,280.00 | $1,820.00 | 2.91% |
| $1,000,000 | $80.00 | $29,700.00 | $29,780.00 | $7,445.00 | 2.98% |
Frequently Asked Questions (FAQ) - FSM Gross Revenue Tax
What is the statutory Gross Revenue Tax formula in the FSM?
Under Title 54 FSMC Section 141, every business in the FSM is taxed on gross revenue received during each calendar year: a flat $80 tax on the first $10,000 of gross revenue, plus 3.0% on all gross revenue in excess of $10,000.
Are business expense deductions allowed under the GRT?
No. The GRT is an turnover-based excise tax on total receipts without deductions for cost of goods sold, salaries, rent, overhead, or losses.
What are the quarterly GRT filing deadlines?
GRT returns must be filed with the FSM Customs and Tax Administration (CTA) on or before the last day of the month following each calendar quarter: April 30 (Q1), July 31 (Q2), October 31 (Q3), and January 31 (Q4).
Do small businesses under $10,000 pay the full 3% rate?
No. Businesses earning up to $10,000 in gross revenue pay only the flat $80 base fee for the year (pro-rated to $20 per quarter), effectively exempting them from the 3% marginal rate.
How does FSM national GRT relate to state business licenses?
The GRT is a national tax collected by the FSM National Government. 50% (or more under constitutional revenue-sharing formulas) is remitted back to the state where collected, alongside independent municipal or state business license fees.
Engr. Muhammad Shahzad
Verified Technical AuthorPrincipal Civil & Systems Software Engineer specializing in Pacific Island statutory fiscal models, computational payroll algorithms, and Title 51/54 FSMC frameworks.
📊 FSM National CTA & Social Security Administration Matrix
| Statutory Component / Legal Deduction Item | Calculated Amount (USD) |
|---|---|
| Primary Net / Statutory Payable Amount | $0.00 USD |