Territorial Tax Parity and Clarification Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 367 Introduced in House (IH)]

<DOC>






119th CONGRESS
  1st Session
                                H. R. 367

 To amend the Internal Revenue Code of 1986 to modify the source rules 
    for personal property sales in possessions of the United States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 13, 2025

 Ms. Plaskett introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to modify the source rules 
    for personal property sales in possessions of the United States.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Territorial Tax Parity and 
Clarification Act''.

SEC. 2. MODIFICATION OF SOURCE RULES FOR PERSONAL PROPERTY SALES IN 
              POSSESSIONS.

    (a) In General.--Section 865(j)(3) of the Internal Revenue Code of 
1986 is amended by inserting ``, 932,'' after ``931''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2023.
                                 <all>