Legislation pending signature in Oregon provides that any global intangible low-taxed income (GILTI) described in IRC section 951A and included in gross income will be treated in the same manner as a dividend received from a 20 percent owned corporation. As such, Senate Bill 851, if signed, would allow taxpayers an eighty percent dividend-received deduction for the total amount of GILTI included in gross income. Any amount of GILTI deducted under IRC section 250 would be required to be added back to federal taxable income. Senate Bill 851 also provides that the amount “of any dividend or of any global intangible low-taxed income that is apportionable shall be determined as provided by the apportionment formula applicable to the taxpayer…” The section of the bill treating GILTI as a dividend applies for tax years beginning on or after January 1, 2018. Please stay tuned to TWIST for more updates on state taxation of GILTI.