3.0.0 367 2026-04-08T13:20:27Z 2026-04-08T13:20:27Z House H HR 2025-01-13 119 https://www.congress.gov/bill/119th-congress/house-bill/367 [Congressional Record Volume 171, Number 6 (Monday, January 13, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. PLASKETT:H.R. 367.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the Constitution.[Page H112]]]> hswm00 Ways and Means Committee House Standing Referred To 2025-01-13T17:01:35Z 2025-01-13 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2025-01-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2025-01-13 Introduced in House IntroReferral 1000 9 Library of Congress P000610 Del. Plaskett, Stacey E. [D-VI] Stacey Plaskett D VI E. N Taxation Caribbean area 2025-04-11T14:51:04Z Energy prices 2025-04-11T14:51:15Z Oil and gas 2025-04-11T14:51:25Z Sales and excise taxes 2025-04-11T14:50:39Z U.S. territories and protectorates 2025-04-11T14:50:47Z Virgin Islands 2025-04-11T14:50:54Z Taxation 2025-02-14T18:41:18Z 00 2025-01-13 Introduced in House 2026-04-08T13:19:39Z Territorial Tax Parity and Clarification Act

This bill authorizes the Internal Revenue Service (IRS) to limit the income tax payment to the Virgin Islands required to treat income from the sale of certain personal property as foreign-sourced income for federal tax purposes.

    As background, income from certain personal property sales from a fixed place of business in a U.S. territory by a U.S. resident may be U.S.-sourced income unless an income tax of at least 10% is paid to the U.S. territory. Under current law, the IRS may limit the 10% tax payment requirement related to income from such personal property sales in Guam, American Samoa, the Northern Mariana Islands, and Puerto Rico.

    This bill expands the IRS’s authority to include limiting the tax requirement for personal property sales in the Virgin Islands.

    ]]>         Territorial Tax Parity and Clarification Act Display Title 45 Territorial Tax Parity and Clarification Act 2025-02-11T05:53:22Z Short Title(s) as Introduced 101 Territorial Tax Parity and Clarification Act 2025-02-11T05:53:20Z Introduced in House IH Official Title as Introduced 6 To amend the Internal Revenue Code of 1986 to modify the source rules for personal property sales in possessions of the United States. 2025-02-11T05:48:41Z Introduced in House IH Introduced in House 2025-01-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr367ih/xml/BILLS-119hr367ih.xml 2025-01-13 Referred to the House Committee on Ways and Means.     text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.