Question: 1 0 . Oasis Co . , a U . S . shareholder owns 1 0 0 % of Shack Co . and 1 0

10. Oasis Co., a U.S. shareholder owns 100% of Shack Co. and 100% of Studio Co, both CFC. Shatk Co, has $300,000 of gross income, of which $50,000 is effectively connected income, and $30,000 is interest expense without any allocable interest income. Shack Co. has $500,000 of machinery used in its trade or business. Studio Co. has $150,000 loss and machinery worth $1,000,000 used its operations. A) what is GILTI for Oasis Co? B) What impact do the operations of Shack Co. and Studio Co. have on Oasis Co. U.S. taxable income? Oasis music include $____ of GILTI in its U.S. Taxable income, but will also get a deduction of 50% of its GILTI inclusion. As a result, its taxable income will increase by $

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