New York Clarifies GILTI Exemption; New Jersey Now Lone Major Commercial State to Significantly Tax Foreign Income By McDermott Will & Emery on June 24, 2019 Email this postTweet this postLike this postShare this post on LinkedIn Stephen Kranz is quoted in a press release from STAR Partnership regarding state-level action on the Tax Cuts and Jobs Act’s GILTI provisions. Read the full real press release.