Bill Takes Aim At Private Equity IPOs

Law360, New York (June 15, 2007, 12:00 AM EDT) -- Prompted by the upcoming initial public offering by Blackstone Group, two senators have introduced a bill that would tax limited partnerships as if they were corporations.

The legislation, introduced on Thursday by Senators Max Baucus (D-Mont.) and Chuck Grassley (R-Iowa), would eliminate a tax loophole that allows limited partnerships to pay a 15% tax rate on capital gains, as opposed to the 35% paid by corporations.

“The nature of investment vehicles is changing right before our eyes, and the tax code must keep up with the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.