The Blackstone Bill update

There’s been a lot in the news in the past month about the taxation aimed at private equity concerns. The US Senate has been busy…

SB 1624 (full text)

A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services.

The above bill has been referred to the Senate Finance Committee and a companion bill has also recently been introduced in the House.
More when it becomes available.

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