Overview: The One Big Beautiful Bill Act (OBBB) renamed Global Intangible Low-Taxed Income (GILTI) to Net CFC Tested Income (NCTI), focusing on income earned by Controlled Foreign Corporations (CFCs).
WASHINGTON, DC - JULY 04: U.S. President Donald Trump, joined by Republican lawmakers, signs the One, Big Beautiful Bill Act into law during an Independence Day military family picnic on the South ...
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Gov. Phil Murphy signed legislation into law July 3 that reforms New Jersey’s corporate tax policies, including changing the way global intangible low-taxed income (GILTI) and net operating losses ...
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At the end of this year, the tax rate on Global Intangible Low-Tax Income (GILTI) is set to rise at the same time as the expiration of the individual provisions of the Tax Cuts and Jobs Act (TCJA).
Following tax reform, domestic corporate taxpayers are required to include in gross income the amount of a CFC’s income in excess of its Subpart F income and 10 percent of depreciable tangible ...
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