Senators Max Baucus (D-Mont.) and Chuck Grassley (R-Iowa), Chairman and Ranking Republican Member of the Senate Finance Committee, yesterday introduced legislation to tax as corporations all publicly traded partnerships that derive income from investment adviser or asset management services.
- Text of Bill
- Explanation of Bill
- Senate Finance Committee, Press Release
- Associated Press, Blackstone’s Tax Burden Could Double, by Marcy Gordon
- Bloomberg, Blackstone, Fortress Tax Structure Targeted by Senate, by Ryan J. Donmoyer
- Bloomberg: Senate Bill Denies Partnership Status for Private Equity IPOs, by Ryan J. Donmoyer
- Conglomerate, The Blackstone Amendment to the PTP Rules, by Victor Fleischer
- Conglomerate, The Blackstone IPO: Two and Twenty on Drugs, by Victor Fleischer
- Conglomerate, Taxing Carried Interest As Ordinary Income: A Policy Recommendation, by Victor Fleischer
- Ideoblog: A Money for Nothing Theory of Taxing Carry, by Larry Ribstein
- Ideoblog: The Private Equity Tax Game, by Larry Ribstein
- New York Times, Bill Would Raise Taxes on Public Equity Firms, by Jenny Anderson & Andrew Ross Sorkin
- Reuters, Senators Seek Blackstone IPO Scrutiny, Tax Changes, by Kevin Drawbaugh
- Wall Street Journal, Lawmakers Seek to Boost Taxes on Buyout Firms; Partnerships Would Face Higher Rate After IPOs; A Shot at Blackstone?, by Dennis K. Berman, Sarah Lueck & Henny Sender
- Washington Post, Senate Bill Could Pose Problems for Blackstone IPO, by David Cho
- WSJ’s DelaBeaker.com, Taxing the Carry
