Alysse McLoughlin and Katie Quinn authored a recent installment of SALTy Thoughts in Tax Notes on July 31, 2025.
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After a suspenseful few months, on July Fourth President Trump signed the One Big Beautiful Bill Act (OBBBA, P.L. 119-21) into law. Among the bill’s many changes are amendments to the global intangible low-taxed
Among the changes in the One, Big, Beautiful Bill Act (OBBBA) was the renaming of Global Intangible Low-Taxed Income (GILTI) to Net CFC Tested Income (NCTI). But the renaming is not the end of the story. The OBBBA also permanently decreases the now-NCTI deduction from 50% to 40% beginning in 2026. (Under the Tax Cuts
Join us on January 30 for the 2025 Florida Economic Outlook & Jobs Solution Summit to hear from expert French Brown, IV of Jones Walker LLP on the potential impact of federal tax changes on Florida businesses.
*Insights on the expiration of key provisions in the federal Tax Cuts & Jobs Act
*Strategies to navigate