H.R. 367

119th CONGRESS 1st Session

To amend the Internal Revenue Code of 1986 to modify the source rules for personal property sales in possessions of the United States.

IN THE HOUSE OF REPRESENTATIVES · January 13, 2025 · Sponsor: Ms. Plaskett · Committee: Committee on Ways and Means

Table of contents

• H.R. 367
  • SEC. 1. Short title
  • SEC. 2. Modification of source rules for personal property sales in possessions

SEC. 1. Short title

• This Act may be cited as the Territorial Tax Parity and Clarification Act.

SEC. 2. Modification of source rules for personal property sales in possessions

• (a) In general
  • of the Internal Revenue Code of 1986 is amended by inserting after . Section 865(j)(3)
• (b) Effective date
  • The amendments made by this section shall apply to taxable years beginning after December 31, 2023.