Page 644 - Large Business IRS Training Guides
P. 644

Allocation of
                                                               GILTI among CFCs










                                                  GILTI is allocated among CFCs with
        •	  US shareholder’s
                              to which the shareholder is a US shareholder.
              respect

              §951A(f)(2)
                                      and Treas. Reg. §1.951A-5(b)(2).


                                 of GILTI allocated to a CFC is:
        •	  Amount




                •	       If CFC has no tested income, zero, and





                •	       If CFC has tested income, proportionate amount based
                    on relative tested income of
                                                                             each such CFC.
                    §951A(f)(2).


                                 GILTI with regards to a particular CFC is
        •	  Amount of

                                for example, in determining deemed paid taxes,
              relevant,
              PTEP,
                            and basis adjustments with respect to the CFC.



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