119th Congress · introduced in the House · Jan 13, 2025
Territorial Tax Equity and Economic Growth Act of 2025
Official title from Congress.gov
Latest action (Jan 13, 2025): Referred to the House Committee on Ways and Means.
View on Congress.govPolicy area: Taxation
Congressional Research Service summary, version: Introduced in House (Jan 13, 2025)
Territorial Tax Equity and Economic Growth Act of 2025
This bill lowers the residency requirements and modifies the income sourcing rules related to taxation of income from U.S. territories.
Currently, bona fide residents of a U.S. territory may exclude income sourced to the territory in calculating U.S. federal income tax. A bona fide resident of a territory is a person that, in part, is present in the territory for at least 183 days in a tax year. Income is sourced to a U.S. territory if it is not U.S.-sourced income or effectively connected with a U.S. trade or business.
This bill
• reduces the presence requirement to 122 days,
• specifies that income is U.S.-sourced income or effectively connected to a U.S. trade or business only if attributable to an office or fixed place of business in the United States, and
Show the full summary (2 more paragraphs)No cosponsors.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
American Samoa · Caribbean area · Guam · Northern Mariana Islands · Puerto Rico · Tax administration and collection, taxpayers · Taxation of foreign income · U.S. territories and protectorates · Virgin Islands
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