118th Congress Taxation
H.R. 1037: Territorial Tax Parity and Clarification Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill modifies the income source rules that apply with respect to the taxation of capital gains from certain personal property sales in the U.S. Virgin Islands (USVI).
Specifically, the bill requires capital gains income earned by a USVI resident to be considered USVI source income regardless of the tax rate imposed by the USVI government. (Under current law, a similar rule applies to other U.S. territories, including Guam, American Samoa, the Northern Mariana Islands, and Puerto Rico.)
Written by the Congressional Research Service, Library of Congress.
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Amendments
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Other bills by Stacey Plaskett
- H.R. 8121: To designate the Christiansted Bandstand at the Christiansted National Historic Site, St. Croix, Virgin Islands, as the "Peter G. Thurland, Sr., Bandstand".
- H.R. 1737: To direct the Secretary of Commerce to submit to Congress a report containing an assessment of the value, cost, and feasibility of a trans-Atlantic submarine fiber optic cable connecting the contiguous United States, the United States Virgin Islands, Ghana, and Nigeria.
- H.R. 5034: Lieutenant General Samuel E. Ebbesen Post Office (Christiansted, St. Croix, VI)
- H.R. 3385: DiasporaLink Act
History
- Introduced in the House by Stacey Plaskett.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.