Territorial Tax Parity and Fairness Act

[AI summary unavailable — showing source text] 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.…