Which of the following is a true statement

regarding the $245$ A Participation Exemption

applicable to post $2017$ taxable years?

Enactment of the exemption means that now the US

taxes all foreign source income of US taxpayers on a

truly territorial basis.

Enactment of the exemption means that the US no

longer taxes dividends received by US corporate

taxpayers from their CFCs by providing a $100$ percent

deduction for dividends received from the CFCs$,$ but the

taxpayers' other foreign source income still may be

taxed by the US$.$

The GILTI inclusion offsets some of the territorial tax

benefits of the Participation Exemption.

Only $($b$)$ and $($c$)$ are correct statements.

Statements $($a$),($b$),$ and $($c$)$ are correct.