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Territorial Tax Parity Act of 2025
Last updated: 1/13/2025 · Introduced: 1/13/2025
Author: Stacey Plaskett (D-VI)
TL;DR (AI)
- This bill amends the Internal Revenue Code to modify rules regarding the source of income for U.S. possessions.
- The legislation targets residence and source rules to promote economic recovery in U.S. possessions.
- Changes to sections 937(b)(2) and 865(j)(3) of the Internal Revenue Code will apply to taxable years beginning after December 31, 2024.
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Other Sections
Includes provisions on preamble, short title., and 1 more.
3 sections
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