HR 368
Territorial Tax Parity and Fairness Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 6:58 AM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Territorial Tax Parity and Fairness Act, aims to clarify the tax treatment of Virgin Islands residents who own shares in corporations based in the Virgin Islands. Specifically, it modifies a section of the Internal Revenue Code to ensure that dividends received by bona fide Virgin Islands residents from these corporations are not automatically considered income derived from U.S. sources. This change is intended to provide greater tax parity for residents of the Virgin Islands and align with existing tax agreements.
Sponsors
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Primary sponsor
Stacey E. [D-VI-At Large] Plaskett
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