Business Trends Webinar: International Tax: GILTI Tax Regime & Planning Opportunities by Eide Bailly

The Tax Cuts and Jobs Act brought many changes to U.S. taxpayers, including those who are shareholders in certain foreign corporations.

One major change involves Global Intangible Low-Taxed Income (GILTI), which requires US shareholders to include in US taxable income certain income of a foreign corporation regardless of whether cash is disturbed.

As a result of the new law US compliance related to foreign corporations has become significantly more complex. Additionally, the GILTI regime creates planning opportunities for both corporations and individuals that can significantly lower US tax liabilities.