Eversheds Sutherland Legal Insights (audio)

The recent Tax Cuts and Jobs Act adopted a provision subjecting certain US shareholders of controlled foreign corporations (CFCs) to tax on their global intangible low-taxed income (GILTI). GILTI is effectively a new worldwide minimum tax on the earnings of a US shareholder’s CFCs.This Bottom Line videocast discusses: What is GILTI? Deductions and credits taken into account in determining the US tax on GILTI How GILTI is calculated, including a simple example