H.R. 1039 · 118th Congress
Territorial Tax Parity and Fairness Act
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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 sets forth a tax rule with respect to certain bona fide residents of the U.S. Virgin Islands who are shareholders of corporations organized under the laws of the Virgin Islands. It provides that such residents shall not be treated as U.S. persons for purposes of determining inclusions in gross income with respect to such corporations.
What it does: CRS summary · Introduced in House · Feb 14, 2023
Territorial Tax Parity and Fairness Act
This bill sets forth a tax rule with respect to certain bona fide residents of the U.S. Virgin Islands who are shareholders of corporations organized under the laws of the Virgin Islands. It provides that such residents shall not be treated as U.S. persons for purposes of determining inclusions in gross income with respect to such corporations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Territorial Tax Parity and Fairness Act
Latest action (Dec 17, 2024): Referred to the Subcommittee on Trade.
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.