Territorial Economic Recovery Act This bill restores the favorable tax treatment of investment in U.S. territories and possessions. It treats such investment as domestic rather than foreign investment and requires investors to have an active trade or business in a U.S. territory or possession with a certain percentage of income derived from such territory or possession.
American SamoaGuamIncome tax exclusionNorthern Mariana IslandsPuerto RicoTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands
Territorial Economic Recovery Act
USA116th CongressS-3940| Senate
| Updated: 6/11/2020
Territorial Economic Recovery Act This bill restores the favorable tax treatment of investment in U.S. territories and possessions. It treats such investment as domestic rather than foreign investment and requires investors to have an active trade or business in a U.S. territory or possession with a certain percentage of income derived from such territory or possession.