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HR367119th CongressWALLET
Territorial Tax Parity and Clarification Act
Sponsored By: Representative Plaskett, Stacey E. [D-VI-At Large]
Introduced
Summary
Clarifies which U.S. possessions count for sourcing sales of personal property. The bill would amend Internal Revenue Code section 865(j)(3) by inserting ", 932," after "931", adding item 932 to the list that determines how sales of personal property in U.S. possessions are sourced. The change is a narrow, textual amendment and would apply to taxable years beginning after December 31, 2023.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New tax sourcing rules for territory sales
This bill would tweak how sales tied to U.S. possessions are sourced for tax. It would add a reference that could change whether the U.S. or a possession taxes income from certain personal property sales. If you run a business or are self‑employed and do these sales, your tax home for that income could change. The change would apply to tax years beginning after December 31, 2023.
Sponsors & CoSponsors
Sponsor
Plaskett, Stacey E. [D-VI-At Large]
VI • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov