H. R. 367 proposes changes to the Internal Revenue Code of 1986. The bill aims to alter the rules about where sales of personal property are considered to happen, specifically in U.S. territories. By amending Section 865(j)(3) to include "932," the bill intends to clarify tax...
Simple Explanation
H. R. 367 is a plan to change a U.S. tax rule about where sales happen for things sold in places like Puerto Rico, so it's clearer how taxes should be paid from 2024 onwards.