Despite the acronym, GILTI won't impact most US taxpayers. Global Intangible Low-Taxed Income is a new tax law provision enacted for years beginning in 2018. It applies to certain shareholders owning stock in foreign corporations. What GILTI basically does, is include in the current income for these shareholders, an amount based upon the current year foreign corporation income and the amount of the corporation's tangible assets. The tax calculation for GILTI is quite co