'IP Come Home!' How TCJA Incentivizes Asset Repatriation
By Robert KigginsMarch 6, 2018, 10:24 PM EST
Law360 (March 6, 2018, 10:24 PM EST) -- Much has been written about how the recent Tax Cuts and Jobs Act, P.L. 115-97, is incenting U.S. multinational companies to bring jobs and income home. However, there are two lesser-known related provisions of TCJA specifically targeting more “portable” income. This is income from assets that are easily moved to other countries, such as intellectual property, or IP.
The two provisions — global intangible low-taxed income, or GILTI, and foreign-derived intangible income, or FDII — share a common goal: keeping U.S. companies’ intangible assets home in...