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New Jersey Provides G.I.L.T.I Guidance

Volume 6 No 4   |   Read Article

By Nina Krauthamer and Rusudan Shervashidze

Federal tax law has introduced a new type of gross income: Global Intangible Low Tax Income (“G.I.L.T.I.”). The provisions are designed to stop U.S. companies from shifting their profits to offshore jurisdictions, and states are given a choice to incorporate parts of Federal law in one of three ways. New Jersey has chosen “selective conformity.” Nina Krauthamer and Rusudan Shervashidze explain what this means for the state and for taxpayers.  See more →