In this four-part video series, Kyle Sollie and Sebastian Watt discuss handling the state impact of federal tax reform. Jump right to what’s important to you:

1. Transition tax and repatriation, part 1:

a. Determining your inclusion b. Watch out! Tax on the actual repatriation (CA Example) c. Mitigating the tax: factor representation

2. Transition tax and repatriation, part 2:

a. Excluding as not unitary — but which year do I test for unity? b. Challenging the tax: Kraft c. Don’t lose your NJ NOLs! d. The double-deduction (a look at NY and PA) e. GILTI, state DRDs, GILTI + add-back = double tax surprise

3. Investment in business assets: bonus depreciation and interest expense

a. Don’t lose your PA or Philly depreciation b. “Accidental” conformity to 100% bonus: IL and RI c. Calculate your interest expense limitation on a consolidated basis — even in separate states

4. Decouple entirely: how rolling IRC conformity may not be rolling conformity