Tax Reform Friday: Should Foreign Entities Be Wary of SALT Minefields?

Overview


Art Rosen said that foreign entities without physical presence in the United States risk incurring unexpected tax liability in state and local US jurisdictions unless they have a plan for navigating state tax law in addition to federal and international law.Over my career, I have encountered numerous foreign businesses that are shocked to learn that they may have such [state and local tax] obligations when they are not subject to the federal income tax,” he said.