The tax treatment of carried interest has been eyed as a revenue source off and on for the past few years. It’s back in the sights of the administration in the new American Jobs Act. Subtitle B – Tax Carried Interest in Investment Partnerships as Ordinary Income Section 411 – Partnership Interests Transferred in Connection […]
As more private investment funds will be pulled under the regulatory umbrella of the Investment Advisers Act,they will need to focus on the limitation on performance fees. Section 205(a)(1) of the Advisers Act generally prohibits any investment adviser, unless exempt from registration pursuant to Section 203(b) of the Advisers Act, from entering into, extending, renewing, […]
Tucked into the Tax Extenders Act of 2009 (H.R. 4213) was a provision targeted at partnership interests held by partners providing services. H.R. 4213 flew through the legislative process of the House of Representatives. It was introduced on December 7, 2009 and passed by the House on December 9, mostly along party lines. The Carried […]
Tucked into the Tax Extenders Act of 2009 (H.R. 4213), is a provision targeted at partnership interests held by partners providing services. This proposal seems to be the same proposal offered by Congressman Sandy Levin from the 12th District of Michigan in H.R. 1935 which has been sitting in Committee [See prior post: Carried Interest […]
We saw in the Obama budget (A New Era of Responsibility) that the administration was looking to raise revenue by taxing the carried interest for private investment funds. I was waiting to see how that one line item in the budget might translate into actual legislation and a change in tax policy. Congressman Sandy Levin […]
The Obama Administration has labeled their 2010 budget as A New Era of Responsibility. Part of that responsibility appears to be taxing carried interest as ordinary income. On page 122 of the budget there is a single line item: “Tax carried interest as ordinary income,” with projections of $2,742 million in 2011, $4,347 million in […]
Besides the position of Professor Bankman on carried interest, the New York State bar submitted a very detailed report and recommendations to the House Committee on Oversight and Government Reform: New York State Bar Tax Section Report on Carried Interest and Fee Deferral Legislation (.pdf) September, 2008
The House Committee on Oversight and Government Reform held a hearing on hedge funds and the financial market on November 13, 2008. Among those testifying was Professor Joseph Bankman, the Ralph M. Parsons Professor of Law and Business at Stanford Law School: Testimony of Joseph Bankman. Professor Bankman points out that the carried interest of […]
- Happy Thanksgiving
- US Private Equity Fund Compliance Guide
- SEC Brings Charges Against CCO for Custody Failure
- Compliance Bricks and Mortar for November 20
- Are There Real Estate Fund Enforcement Cases Coming From the SEC?
- Rapid-Fire, Nuts & Bolts Tips from Former Regulators Now in the Private Sector
- The Asset Management Unit: Reflecting and Moving Ahead
- Discover the Priorities and Perspectives of the Office of Compliance Inspections and Examinations
- Investment Management: What’s Next on the Rulemaking Front
- Red-Hot SEC Enforcement Priorities
Dodd-Frank’ed Real Estate
- Yes, the SEC Wants Real Estate Fund Managers to Register
- Are Real Estate Fund Managers Registered with the SEC?
- Are you an Investment Company?
- Real Estate Funds and the Investment Company Act
- Are you an Investment Adviser?
- Custody and Private Funds
- Private Equity Real Estate Top 50 – 2015 Edition of Who is Registered