houseStanding
Ways and Means Committee
- Referred To
← Back to federal legislation
H.R. 367In committee
Territorial Tax Parity and Clarification Act
Introduced: Jan 13, 2025
Latest action date: Jan 13, 2025
Latest development
Referred to the House Committee on Ways and Means.
Your view
- Congress
- 119th Congress
- Introduced
- Jan 13, 2025
- Recorded roll calls
- 0
Status detail: The most advanced recorded stage is committee consideration.
Plain-language overview
What this bill does
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.
Civixly topics
What this legislation is about
Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.
Official CRS policy area
Taxation
View 6 official legislative subjects
Caribbean areaEnergy pricesOil and gasSales and excise taxesU.S. territories and protectoratesVirgin Islands
Committee activity
Committees and subcommittees that received, reviewed, marked up, or reported this legislation.
Official committee record ↗
Amendments
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
No amendments are listed for this measure.
Checked against Congress.gov Sep 16, 2026.
Action timeline
Newest action first. Action language comes from the official Congress.gov record.
View full action timeline3 actions
Referred to the House Committee on Ways and Means.
IntroReferralHouse floor actionsIntroduced in House
IntroReferralLibrary of CongressIntroduced in House
IntroReferralLibrary of Congress
Roll-call votes
Recorded House and Senate votes connected to this bill. Your representatives appear first when available.
No connected roll-call votes are currently available for this bill.
Discussion
0 comments
Sign in to join the discussion.Comments are publicly visible.
Loading comments...