Territorial Tax Parity Act of 2019

I 116TH CONGRESS 1ST SESSION H. R. 411 To amend the Internal Revenue Code of 1986 to modify the source rules to provide for economic recovery in the possessions of the United States. IN THE HOUSE OF REPRESENTATIVES JANUARY 9, 2019 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 modify the source rules to provide for economic recovery in the possessions of the United States. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Territorial Tax Parity 4 Act of 2019’’. 5 SEC. 2. MODIFICATION TO SOURCE RULES INVOLVING POS- 6 SESSIONS. 7 (a) IN GENERAL.—Section 937(b)(2) of the Internal 8 Revenue Code of 1986 is amended by inserting ‘‘, but only 9 to the extent such income is attributable to an office or 10 VerDate Sep 11 2014 02:22 Jan 20, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H411.IH H411 pbinns on DSK79D2C42PROD with BILLS 2 •HR 411 IH fixed place of business within the United States (deter- 1 mined under the rules of Section 864(c)(5))’’ before the 2 period at the end. 3 (b) SOURCE RULES FOR PERSONAL PROPERTY 4 SALES.—Section 865(j)(3) of such Code is amended by 5 inserting ‘‘, 932,’’ after ‘‘931’’. 6 (c) EFFECTIVE DATE.—The amendments made by 7 this section shall apply to taxable years beginning after 8 December 31, 2018. 9 Æ VerDate Sep 11 2014 02:22 Jan 20, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H411.IH H411 pbinns on DSK79D2C42PROD with BILLS