Territorial Tax Parity and Fairness Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 368 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 368 To amend the Internal Revenue Code of 1986 to provide that certain bona fide residents of the Virgin Islands who are shareholders of corporations organized under the laws of the Virgin Islands are not treated as United States persons for purposes of determining certain inclusions in gross income with respect to such corporations. _______________________________________________________________________ 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 provide that certain bona fide residents of the Virgin Islands who are shareholders of corporations organized under the laws of the Virgin Islands are not treated as United States persons for purposes of determining certain inclusions in gross income with respect to such corporations. Be it enacted by the Senate and House of Representatives of the United …