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Theme Parks
Tax incentive for theme park development and operations, supporting major entertainment attractions and tourism infrastructure.
8 min
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Section Code:
2051.01 (b)-6
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Purpose:
Visitor Economy — 2051.01 (b)-6
Overview
The Theme Parks designation under Section 2051.01(b)-6 of Act 60-2019, as amended, provides preferential tax treatment for theme park development and operations in Puerto Rico. This designation supports large-scale recreational attractions that enhance tourism offerings and create entertainment destinations.
Qualifying theme park operators may receive reduced corporate income tax rates, property tax exemptions on facilities and equipment, and municipal tax relief. The program attracts theme park developers, entertainment venue operators, and major recreational attractions.
The key distinction is its focus on large-scale themed entertainment venues rather than general tourism or smaller attractions. Theme parks provide significant tourism infrastructure and employment.
Key Benefits
Reduced Corporate Income Tax Rate
Theme park operators may receive reduced rates on entertainment and admission revenues.
Property Tax Exemptions
Theme park facilities, rides, equipment, and infrastructure may receive substantial property tax exemptions given high capital intensity.
Municipal Tax Relief
Theme park operators may receive exemptions from municipal license taxes.
Tourism Anchor Status
Theme parks serve as destination attractions that drive broader tourism activity and extended stays.
Requirements & Obligations
Theme Park Standards
Facilities must meet standards for theme parks including themed attractions, entertainment infrastructure, and visitor capacity.
Safety and Operations
Theme parks must maintain strict safety standards for rides and attractions and comply with recreational facility regulations.
Investment Scale
Theme park developments typically involve substantial capital investments commensurate with major tourism infrastructure.
Employment
Theme parks must employ Puerto Rico residents in operations, maintenance, entertainment, and management.
Reporting
Annual reports document operations, attendance, revenues, and employment.
How to Apply
Applications typically require eighteen (18) to thirty-six (36) months given development complexity. Applications include theme park plans, attraction designs, safety programs, financial projections, and economic impact analyses. Upon approval, operators complete development and commence operations.
This information is educational and should not be considered legal or tax advice. Applicants should consult with qualified legal and tax professionals familiar with Puerto Rico incentive programs before making any business decisions or submitting applications.
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