Taxing Carried Interest - The Implications to US Fund Managers of Recently Proposed Regulations

September 8, 2020

IRC Code Section 1061 was enacted at the end of 2017 as part of the Tax Cuts and Jobs Act and generally requires a longer holding period (3 years instead of 1 year) to qualify for favorable long-term capital gains rates for certain partnership interests (including, carried interest) (the “Carry Tax Rule”).  On Friday July 31, 2020, the United States Department of Treasury released long-awaited Proposed Regulations as guidance for the application of Section 1061 (the “Carry Tax Rule Guidance”).  Our webinar will explore the Carry Tax Rule Guidance and the potential implications for private equity fund sponsors and other carried interest recipients.

Panelists:

• Brian D. Huber (moderator), Gunderson Dettmer, Boston, MA
• Emily M. Cummins, Proskauer Rose LLP, Boston, MA
• Kyle J. Litfin, Kirkland & Ellis, New York, NY
• Jace E. Clegg, Gunderson Dettmer, New York, NY

Presented by: Private Equity and Venture Capital Committee

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