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Changes to tax rules for personal property sales in US territories.

This act modifies how the source of income from personal property sales in U.S. possessions is determined. It aims to clarify and standardize tax regulations, potentially affecting tax obligations for individuals and businesses engaged in such activities. These changes are effective for taxable years beginning after December 31, 2021.
Key points
Modification of source rules for personal property sales in U.S. possessions.
Changes apply to taxable years beginning after December 31, 2021.
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Expired
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Additional Information
Print number: 117_HR_9250
Sponsor: Del. Plaskett, Stacey E. [D-VI-At Large]
Process start date: 2022-10-28
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Territorial Tax Parity and Clarification Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9250.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-10-28.

What are the main provisions?

Key points include:

  • Modification of source rules for personal property sales in U.S. possessions.
  • Changes apply to taxable years beginning after December 31, 2021.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Del. Plaskett, Stacey E. [D-VI-At Large].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes