Permanent Increase in Estate and Gift Tax Exemption |
~$ 13 million exemption( temporary, through 2025) |
Exemption permanently increased to $ 15 million( indexed), effective after 2025 |
Provides greater certainty and flexibility in estate planning, allows for larger tax-free transfers of wealth, and reduces the compliance burden for vast majority of taxpayers. |
INTERNATIONAL |
Permanent Extension of Look- Through Rule for CFCs |
Temporary |
Made permanent |
Simplifies international tax planning for U. S. multinationals |
Modification of Foreign Tax Credit Limitation |
Stricter allocation of deductions to foreign source income |
Certain deductions( ex. interest, R & D) not allocated to foreign source net CFC tested income for FTC purposes |
Increases FTCs available to U. S. multinationals, reducing double taxation |