Guam § 51102 - Deposit of Funds.
Full text of Guam Guam Code Annotated § 51102 — Deposit of Funds., with citation guidance and answers to common questions.
§ 51102. Deposit of Funds.
The Director of the Department of Administration (DOA) shall
directly deposit, upon receipt of any payment of income tax, including,
but not limited to, individual, corporate and withholding taxes, interest
and penalties, to the Trust Fund a portion of the tax payment received to
be calculated by multiplying the amount of the tax payment received by
COL10312014
11 GCA FINANCE & TAXATION
PAYMENT TRUST FUND ACT OF 2002
the quotient derived by the provision for tax refunds (the dividend)
divided by the total income taxes, including, but not limited to,
individual, corporate and withholding taxes, interest and penalties, (the
divisor) amounts adopted in the pertinent government of Guam fiscal
year budget, so that, at the end of the fiscal year, the total amount set
aside in said budget for income tax refunds, the earned income tax credit
and advanced child tax credits shall have been deposited in said Fund.
The funds deposited in the Trust Fund by the Director of Administration
shall immediately be transferred to the Income Tax Reserve Fund upon
the written request of the Tax Commissioner for payments made
pursuant to § 50105 of Chapter 50, Division 2 of Title 11 of the Guam
Code Annotated. The interest earned by money in the Trust Fund shall
be held in the Fund.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 51102
What does Guam Code Annotated § 51102 cover?
Section 51102 ("Deposit of Funds.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 51102?
A common citation format is "Guam Code Annotated § 51102" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 51102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.