February 2018 JD Supra

The “Tax Cuts and Jobs Act” (the “Act”) has a stated purpose of converting the U.S. to a “territorial” tax system.  Before the Act was approved, most U.S. companies were incentivized to keep their earnings offshore.  In the transition to becoming a territorial tax system, the ACT provides certain incentives and one of them is the DRD. https://www.jdsupra.com/legalnews/did-you-know-that-the-act-has-a-38234/