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  3. which of the following is a true statement regard

Which of the following is a true statement regarding the 245 A Participation Exemption...

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Accounting

Which of the following is a true statement
regarding the 245 A Participation Exemption
applicable to post 2017 taxable years?
Enactment of the exemption means that now the US
taxes all foreign source income of US taxpayers on a
truly territorial basis.
Enactment of the exemption means that the US no
longer taxes dividends received by US corporate
taxpayers from their CFCs by providing a 100 percent
deduction for dividends received from the CFCs, but the
taxpayers' other foreign source income still may be
taxed by the US.
The GILTI inclusion offsets some of the territorial tax
benefits of the Participation Exemption.
Only (b) and (c) are correct statements.
Statements (a),(b), and (c) are correct.
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