News & Analysis as of

New Legislation Tax Reform Investment Funds

McDermott Will & Schulte

Carried interest in the UK: The new average holding period (AHP) condition for credit funds

The UK tax regime for carried interest is being substantially revised from April 2026. This Alert focuses on one particular aspect: the changes to how credit funds should calculate the average holding period (AHP) of their...more

Hogan Lovells

UK carried interest regime: draft legislation confirms scope and conditions

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On 21 July 2025, the UK Government published draft legislation for the new UK carried interest regime, which is expected to come into effect from 6 April 2026. As previously announced, the draft legislation provides for...more

DLA Piper

One Big Beautiful Bill Act: Top Points for the Investment Funds Industry

DLA Piper on

President Donald J. Trump signed the legislation commonly known as the “One Big Beautiful Bill” (Tax Act) into law on July 4, 2025. We explore five key takeaways for fund sponsors, investors, and the broader asset management...more

Sullivan & Worcester

"One Big Beautiful Bill Act" Enshrines Opportunity Zone Provisions

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On July 4, 2025, President Trump signed the "One Big Beautiful Bill Act" (the “OBBBA”), which contains amendments to sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code (the “Original Statute”)—the provisions that...more

Fox Rothschild LLP

Changes in Washington State Tax Law Will Impact Businesses

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Washington recently enacted major tax law changes that will affect many businesses operating in the state. Here’s what you need to know: Changes to the Definition of Incidental Investment Income - Washington law now...more

Troutman Pepper Locke

The One Big Beautiful Bill: Initial Analysis of Key Provisions for Investment Funds and Sponsors

Troutman Pepper Locke on

On May 22, 2025, the House of Representatives passed H.R. 1, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Tax Bill). The Tax Bill proposes amendments to the Internal Revenue Code (the Code) that...more

Eversheds Sutherland (US) LLP

The One Big Beautiful Bill’s impact on investments in BDCs

On May 14, 2025, the House Ways and Means Committee approved the so-called “One Big Beautiful Bill” (Bill). We have issued several other alerts regarding the Bill. Among other tax provisions, the Bill includes two provisions...more

Bricker Graydon LLP

Opportunity Zones

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The recent federal tax reform bill included provisions creating a new program through which a taxpayer can defer income tax on capital gains. The Opportunity Zone program allows a taxpayer to reinvest proceeds from the sale...more

Mayer Brown

Gain Deferral Using Qualified Opportunity Zone Investment Strategies

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We have published our whitepaper: Gain Deferral Using Qualified Opportunity Zone Investment Strategies Legal Update. “Qualified Opportunity Zones” are not specific to renewable energy and do not involve tax credits but...more

Pierce Atwood LLP

States Designate Opportunity Zones

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The Tax Cuts and Jobs Act of 2017 created a new economic development program that encourages long-term investments in low-income areas, so-called “Opportunity Zones,” by offering tax deferral for capital gains reinvested in...more

Dickinson Wright

Treasury and IRS announce designation of Opportunity Zones for 18 States

Dickinson Wright on

The Tax Cut and Jobs Act of 2017 (TCJA) established a new economic development incentive, known as an “Opportunity Zone”. ...more

Bricker Graydon LLP

Ohio recommends Opportunity Zones for federal tax breaks

Bricker Graydon LLP on

The recently passed Tax Cuts and Jobs Act of 2017 created an opportunity for states “to identify up to 25% of low-income, high-poverty census tracts” for consideration for federal tax breaks for economic development,...more

Snell & Wilmer

The Opportunity Zone Program: Treasury Designates Opportunity Zones in Three Territories and 15 States, including Arizona,...

Snell & Wilmer on

On April 9th, the U.S. Treasury Department designated Opportunity Zones in three territories and 15 states, including Arizona, California and Colorado....more

Butler Snow LLP

U.S. Department of the Treasury Designates Specific Census Tracts as Qualified Opportunity Zones

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Today the U.S. Department of the Treasury certified specific census tracts nominated by Mississippi Governor Phil Bryant and designated such census tracts as Qualified Opportunity Zones....more

Bradley Arant Boult Cummings LLP

Gov. Ivey Nominates 158 Census Tracts as Alabama Opportunity Zones

Wednesday, Gov. Kay Ivey designated 158 qualifying low-income or distressed census tracts within Alabama as Opportunity Zones (OZ) under the new OZ program created by the Tax Cuts and Jobs Act, which defers and potentially...more

Lowndes

Tax Cut and Jobs Act Limits Benefit of Carried Interest

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After many years of being the target of Congress and the IRS, the Tax Cut and Jobs Act finally succeeded in limiting the beneficial tax treatment of carried interests, at least for some taxpayers. This change will be of...more

Ballard Spahr LLP

Treasury Expands “Safe Harbor” List of Opportunity Zones

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The new tax law, known as the Tax Cuts and Jobs Act, allows states, the District of Columbia, U.S. possessions, and Puerto Rico to designate “Qualified Opportunity Zones” to encourage new capital investment in low-income...more

Ballard Spahr LLP

Permanent or Temporary Deferral of Tax on Gains: Opportunity Zones

Ballard Spahr LLP on

The new tax law, known as the Tax Cuts and Jobs Act, allows states, the District of Columbia, U.S. possessions, and Puerto Rico to designate Qualified Opportunity Zones to encourage new capital investment in low income census...more

Pierce Atwood LLP

Opportunity Zones: Economic Development And Tax Deferral

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The Tax Cuts and Jobs Act of 2017 created a significant—and little-discussed—economic development program that encourages long-term investments in so-called “Opportunity Zones” by offering temporary tax deferral for capital...more

Butler Snow LLP

New Opportunity: Make Sure Your Communities Are Included

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The 2017 Tax Cuts and Jobs Act, enacted December 22, 2017, offers a new tax incentive for the benefit of low-income communities with the creation of qualified opportunity zones. It is anticipated that the qualified...more

Herbert Smith Freehills Kramer

Funds Talk: February 2018

Global Regulators Increasingly Shifting Focus to Cryptocurrency - After years of allowing cryptocurrency transactions to fly under the radar, financial market regulators are beginning to turn their attention to virtual...more

Morrison & Foerster LLP

Investment Management Legal + Regulatory Update -- July 2013

In This Issue: Regulatory Updates - SEC Proposes Money Market Reform; SEC Eases Ban on General Solicitation and General Advertising in Certain Private Placements; SEC and CFTC Adopt Joint Rules to Address...more

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