tax reform
tax reform

State Conformity to Federal Section 965 Transition Tax

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Under the Tax Cuts and Jobs Act, Sec. 965 requires U.S. shareholders to pay a transition tax on the untaxed foreign earnings of certain foreign corporations as if those earnings had been repatriated to the United States. This transition tax may have to be paid on 2017 tax returns. Please refer to for additional information.

Stay tuned to Intuit’s article “Sec. 965 Transition Tax,” which provides a guide to how each of the states are conforming, not conforming and addressing the federal 965 transition tax.

Mike D'Avolio, CPA, JD

Mike D’Avolio, CPA, JD, is a tax law specialist for Intuit® ProConnect™, where he has worked since 1987. He monitors legislative and regulatory activity, serves as a government liaison, circulates information to employees and customers, analyzes and tests software, trains employees and customers, and serves as a public relations representative. More from Mike D'Avolio, CPA, JD

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