Reed Smith Client Alerts

Have you considered the state impact of the deemed repatriation? Is it beneficial to calculate your interest expense limitation on a combined basis? Can you take Pennsylvania bonus depreciation? Do you want to decouple from the state tax impact of federal tax reform entirely?
American flag outside of US Dept of Commerce

In this four-part video series, Kyle Sollie and Sebastian Watt discuss handling the state impact of federal tax reform. Jump right to what’s important to you:

  • Transition tax and repatriation, part 1:
  • Determining your inclusion
  • Watch out! Tax on the actual repatriation (CA Example)
  • Mitigating the tax: factor representation


  • Transition tax and repatriation, part 2:
  • Excluding as not unitary — but which year do I test for unity?
  • Challenging the tax: Kraft
  • Don’t lose your NJ NOLs!
  • The double-deduction (a look at NY and PA)
  • GILTI, state DRDs, GILTI + add-back = double tax surprise