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Proposed Legislation Carried Interest

Proskauer - Tax Talks

UK Government Carried Interest Tax Reforms Consultation Process: No New Conditions, Territorial Limits Clarified

Proskauer - Tax Talks on

June 2025 – The UK Government has published its response to the consultation on its proposal to change the tax treatment of carried interest, confirming the expected final shape of the new regime which will take effect from...more

Akin Gump Strauss Hauer & Feld LLP

From Crackdown to Calibration: The UK’s Evolving Carried Interest Regime

In November, we covered the UK government’s proposal to overhaul the tax treatment of carried interest in the United Kingdom—an effort to close perceived loopholes by shifting carried interest fully into the income tax...more

Cadwalader, Wickersham & Taft LLP

Carried Interest Survives Budget Bill … for Now

On May 15, 2025, the House released the draft FY 2025 budget bill. As currently drafted, the budget bill does not limit or otherwise change the tax treatment of carried interest.  Following the release of the budget bill,...more

DLA Piper

2025 Carried Interest Tax Reform and Impact on Sponsors and Investors

DLA Piper on

On February 6, 2025, President Donald Trump met with Republican lawmakers to discuss budget priorities, proposing to end carried interest. On the same day, Democrats introduced bills in both the House and the Senate that...more

Morrison & Foerster LLP

Proposed “Inflation Reduction Act” Could Significantly Curtail Carried Interest Tax Benefits

On July 27, 2022, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced their agreement on proposed legislation (the “Inflation Reduction Act of 2022” or “Act”) that is expected to be considered by the Senate...more

Paul Hastings LLP

Proposed Legislation Threatens to Upend Carried Interest Rules

Paul Hastings LLP on

As widely reported, on July 27, 2022 Democratic Majority Leader Senator Chuck Schumer and Senator Joe Manchin (D-W.Va) agreed to a reconciliation bill package titled the Inflation Reduction Act of 2022. The bill contains...more

McDermott Will & Emery

Inflation Reduction Act & Long-Term Capital Gain for Carried Interest

OVERVIEW OF CARRIED INTEREST RULES Section 1061 of the Code, enacted in 2017 as part of the Tax Cuts and Jobs Act, recharacterizes certain gain that would otherwise qualify as long-term capital gain with respect to...more

Mitchell, Williams, Selig, Gates & Woodyard,...

First Look: Select Tax Provisions in the Proposed American Families Plan

On April 28, President Biden announced the American Families Plan. The American Families Plan is touted as an investment in America’s children and families – helping families cover basic expenses that so many struggle with...more

Holland & Knight LLP

Congress Releases Revised Conference Bill on Tax Reform - A Look at How It Compares with Earlier House and Senate Bills

Holland & Knight LLP on

Congress released the "Tax Cuts and Jobs Act" on late Friday evening, Dec. 15, 2017. This version of the bill is the result of a conference committee process to marry the different bills previously passed by the U.S. House of...more

Hogan Lovells

U.S. Tax Reform in Final Stretch

Hogan Lovells on

This past week, on 1 December, the Senate voted 51-49 to advance its version of U.S. tax reform legislation. This sets the stage for a conference committee process to occur over the next two weeks, in which the Senate and...more

Cadwalader, Wickersham & Taft LLP

Fifteen Provisions to Watch in the Tax Reform Proposals

On November 14, 2017, Senate Finance Committee Chairman, Orrin Hatch (R-Utah), released his modified tax reform plan (“Senate Bill”), which adopts some of the House Bill proposals (as amended) (“House Bill”), but also...more

Latham & Watkins LLP

How US Tax Reform Proposals Will Affect Private Investment Funds and Asset Managers

Latham & Watkins LLP on

Aspects of the current proposals could significantly alter the US taxation of investment funds, sponsors, and investors. Key Points: ..Major changes to US tax laws on business tax rates, interest deductibility, and...more

Hogan Lovells

Top Five Takeaways from Hogan Lovells Sovereign Investment Conference and a Tax List

Hogan Lovells on

On 26 October, Hogan Lovells hosted its inaugural Sovereign Investor Conference where investment professionals as well as deal and regulatory lawyers discussed the key issues facing government-sponsored investors. Topics they...more

Holland & Knight LLP

Private Equity and Other Carried Interest Funds – Federal Tax Policy Tip Sheet: Issue 3

Holland & Knight LLP on

The Top Line - The House Ways and Means Committee completed its marathon "markup" of the tax-reform bill this week, paving the way for a floor vote on the measure as soon as next week....more

Akin Gump Strauss Hauer & Feld LLP

Carried Interest and Other Tax Reform Highlights for Investment Funds and Asset Managers

• Significant corporate and potential individual tax rate reductions and a 25% individual tax rate on certain “qualified business income” would be introduced (although many fund investors and sponsors would not be eligible...more

Holland & Knight LLP

Private Equity and Other Carried Interest Funds – Federal Tax Policy Tip Sheet: Issue 2

Holland & Knight LLP on

House GOP leaders on Thursday, Nov. 2, released their anticipated tax-reform proposal. Entitled the "Tax Cuts and Jobs Act," the House Bill includes several proposed changes to the corporate and individual tax system....more

Cadwalader, Wickersham & Taft LLP

New York State Bill Would Alter Taxation of Carried Interest

A bill recently introduced in the New York State Assembly would impose additional tax on carried interest. The taxation of carried interest has been widely discussed over the last decade, with a number of bills introduced...more

Lowndes

Carried Interests – Here We Go Again

Lowndes on

Following up on last week’s blog post on carried interests, a new bill was introduced Friday in the House of Representatives targeting carried interests. This bill, H.R. 2889, is titled the Carried Interest Fairness Act of...more

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