Archive: GILTI

  • Clear Filters

U.S. Individual Shareholders of Controlled Foreign Corporations May Elect to Decrease Tax on GILTI

The Tax Cuts and Jobs Act (TCJA) enacted various U.S. international tax provisions. The new law includes the U.S. federal tax on global intangible low-taxed income referred to as GILTI. The GILTI rule applies to U.S. shareholders of controlled foreign corporations (CFCs). Effective on January 1, 2018, a U.S. shareholder of a CFC is required […]

Alison Dougherty Hosted a Series of Strafford Webinars in Fall 2019

Alison Dougherty, a director in Aronson’s Tax Services Group, will host a series of Strafford webinars this fall. The following webinars will be held on their respective dates and available on-demand afterward: 10/29: Basics of Foreign Tax Reporting: Identifying Individuals’ Filing Requirements: Inbound vs. Outbound Reporting Duties, Intersection Between Information Reporting and Income Calculation 11/5: Form 5471 […]

Maryland Comptroller Clarifies GILTI Treatment

On April 17, 2019, the Comptroller of Maryland issued a Tax Alert to provide guidance to taxpayers on the state’s taxation of global intangible low-taxed income (GILTI), a new category of foreign earnings subject to federal income tax as a result of provision enacted by The Tax Cuts and Jobs Act (TCJA). The Tax Alert […]