P.R. Laws tit. 21, § 5185
Any natural or juridical retailer directly engaged in the sale of goods or services to consumers who does not enjoy a larger exemption at present, is hereby exempted from the personal property tax levied by virtue of §§ 5001 and 5002 of this title, and the real property tax levied by the municipalities of Puerto Rico for an amount equal to the tax levied on said property up to a valuation of fifty thousand dollars ($50,000); provided, that the annual sales volume of said natural or juridical person’s business or businesses has not exceeded one hundred fifty thousand dollars ($150,000) during the calendar year immediately preceding the fiscal year for which the tax is computed. Natural or juridical persons engaged in the concurrent manufacture and retail sale of goods, shall be entitled to the exemption granted by §§ 5185 and 5191 of this title only for that part of their operations which properly corresponds to retail sales.
History —Aug. 30, 1991, No. 83, § 5.35; Aug. 6, 1992, No. 45, § 8.