How does the Section 250 deduction reduce tax on GILTI for corporations?
I own a U.S. C-corp that has CFC subsidiaries. My understanding is that there's a deduction under Section 250 that lowers the effective tax rate on GILTI for domestic corporations. How exactly does this deduction work? Is it 50% of the GILTI amount? And I heard the deduction percentage is changing soon — can you confirm the timeline?
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