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Territorial Tax Parity and Fairness Act

USA118th CongressHR-1039| House 
| Updated: 12/17/2024
Stacey E. Plaskett

Stacey E. Plaskett

Democratic Representative

Virgin Islands

Ways and Means Committee, Trade Subcommittee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Feb 14, 2023
Introduced in House
Feb 14, 2023
Referred to the House Committee on Ways and Means.
Dec 17, 2024
Referred to the Subcommittee on Trade.
  • February 14, 2023
    Introduced in House


  • February 14, 2023
    Referred to the House Committee on Ways and Means.


  • December 17, 2024
    Referred to the Subcommittee on Trade.

Taxation

Income tax ratesTax administration and collection, taxpayersU.S. territories and protectoratesVirgin Islands

Territorial Tax Parity and Fairness Act

USA118th CongressHR-1039| House 
| Updated: 12/17/2024
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 14, 2023
Introduced in House
Feb 14, 2023
Referred to the House Committee on Ways and Means.
Dec 17, 2024
Referred to the Subcommittee on Trade.
  • February 14, 2023
    Introduced in House


  • February 14, 2023
    Referred to the House Committee on Ways and Means.


  • December 17, 2024
    Referred to the Subcommittee on Trade.
Stacey E. Plaskett

Stacey E. Plaskett

Democratic Representative

Virgin Islands

Ways and Means Committee, Trade Subcommittee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Income tax ratesTax administration and collection, taxpayersU.S. territories and protectoratesVirgin Islands