Few Answers On State Taxing Of Individuals' GILTI Inclusions

By Peter Baum and Chris Migliaccio ( December 18, 2019, 5:59 PM EST) -- With the end of 2019 tax filing season, all calendar-year taxpayers have finally filed their first returns reporting Global Intangible Low Taxed Income inclusions. GILTI, enacted as part of the Tax Cuts Jobs Act,[1] affects all U.S. taxpayers who are U.S. shareholders[2] of controlled foreign corporations.[3]...

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