The Tax Cuts and Jobs Act (the “Act”) enacted in December 2017 generally became effective in 2018. Business planning for exports, cross border licensing, and foreign operations must now consider the impact of the Global Intangible Low-Taxed Income (GILTI) and Foreign Derived Intangible Income (FDII) provisions of the Act. Closely held U.S. businesses need to consider the relative advantages of the new pass through deduction over the limited deferral of U.S. tax on foreign earnings available under GILTI. Additionally, foreign tax credit regime has changed and will impact after-tax investment returns on cross border activities. Proposed regulations (in some cases, even final regulations) have been issued and are critical in applying the international provisions of the Act.
In this practical webinar, you will learn about these new regulations and their impact to U.S. based businesses.
Upon course completion, you will be able to:
- Consider alternative structures for U.S. based businesses expanding or initiating overseas operations and export sales
- Apply the GILTI provision to operations of a foreign subsidiary
- Outline the FDII provision and its impact to U.S. based exports of products and services and outbound licensing of IP
- Describe the broad contours of the new foreign tax credit under TCJA
- Identify the international tax forms needed to be compliant under TCJA
Prerequisites: None
Program Level: Intermediate
Field of Study: Taxes
Credit Type: Group Internet Based for the Live Program.
William K. Norman
Ord & Norman
William (Bill) Norman is the managing partner of the Los Angeles tax law firm of Ord & Norman. He advises U.S. and foreign-based businesses on international tax planning and compliance matters. His recent engagements have included advising and implementing cross border (international) expansions and mergers. He is a graduate of University of California School of Law (Berkeley) (J.D.) and New York University School of Law Graduate Tax Program (LL.M. in taxation).
CLE Credits (Law)
| Credit | Value | Type | Format |
|---|---|---|---|
In some CLE states, the course will be submitted to the bar after you register. If for any reason the course is not approved, we will fully refund your registration fee. If a state is listed on this course, then we are confident the course fits that state's standards and already is or will be approved for credit.
Accounting Credits
| Credit | Value | Field of Study | Format |
|---|---|---|---|
| CPE | 2 | Taxes | On-Demand/Recording |
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CPE Credit - Maximum Credit Hours: Please see above. You must attend at least 50 minutes to obtain credit. Fields of Study: Please see above. Teaching Method: Lecture. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state’s regulatory board.
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