H.R. 1036 · 118th Congress
Territorial Tax Parity Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PlaskettSponsorNo cosponsors.
This bill modifies the income source rules involving U.S. possessions, including Guam, American Samoa, the Northern Mariana Islands, Puerto Rico, and the Virgin Islands.
What it does: CRS summary · Introduced in House · Feb 14, 2023
Territorial Tax Parity Act of 2023
This bill modifies the income source rules involving U.S. possessions, including Guam, American Samoa, the Northern Mariana Islands, Puerto Rico, and the Virgin Islands.
Under current law, income is not considered to be possession source income if it is treated as income (1) from sources within the United States, or (2) effectively connected with the conduct of a trade or business within the United States. The bill amends this rule to specify that it applies to the extent that the income is attributable to an office or fixed place of business within the United States.
The bill also modifies the income source rules that apply to certain personal property sales in the Virgin Islands.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Territorial Tax Parity Act of 2023
Latest action (Feb 14, 2023): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 14, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.