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Biden’s tax proposals may push Puerto Rico closer to statehood. We'll discuss what provisions are being talked about, how it might play out, how these proposals could push Puerto Rico to statehood, and the impact on Act 20 companies this may have. Get more information about the topics that affect you! 🌎Website - https://askfrost.com 💼LinkedIn - / frost-&-associates 📘Facebook - / frosttaxlaw 🐤Twitter - / irstaxissues Chapters: 0:00 – Intro 0:50 – Agenda 1:20 – Two Provisions 3:30 – GILTI 5:55 – Negative Effects 7:00 – What Happens Next 8:15 – Act 20 9:20 – Revising GILTI 10:00 – Statehood 11:20 – Act 22 12:00 – Outro Resources: GILTI/Global intangible low-taxed income or Form 8992 https://www.irs.gov/forms-pubs/about-... About Frost Law: Frost Law is comprised of skilled tax attorneys, business attorneys, litigation attorneys, estates attorneys, Certified Public Accountants, Certified Financial Planners, and other tax professionals. We have been serving clients across the country and abroad. We have office locations on the East Coast in Maryland, Virginia, Washington, D.C., Pennsylvania, Florida and serve clients internationally. DISCLAIMER: This video is not legal, tax, or financial advice. Talk with a professional about your situation before making any legal or financial decisions. These videos also do not create attorney-client privilege. #FrostLaw #PuertoRico #Taxes