S.1624 - 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.

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  • Official: 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. as introduced.

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06/14/07
 
 
 
 
 
 
 

Latest Action Jun 14, 2007Introduced in Senate Related Bills (2) & Issues (8)
6/14/2007--Introduced.Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 194
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6/14/2007--Introduced.
Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services.


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Recent News Coverage

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08/02/07
Center for Individual Freedom Warns Against Private Equity Tax ...

In response, Center for Individual Freedom President Jeffrey Mazzella issued the following statement: "S. 1624, the Baucus-Grassley bill to increase taxes ...

Source: Earthtimes.org
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06/25/07
Blackstone ruling would close loophole, raise taxes

A bill that has been introduced in the Senate, the Baucus-Grassley bill (S.1624), would specifically remove the tax benefit for companies like Blackstone, ...

Source: Accountingweb.com, IN
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06/19/07
Baucus-Grassley Bill - A Bi-Partisan Hit on Free Markets

WASHINGTON, June 19 /PRNewswire-USNewswire/ -- "The Baucus-Grassley bill (S.1624) targeting financial-services partnerships is a bi-partisan mafia- style ...

Source: Earthtimes.org
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Information made available by Daily Life
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Recent Blog Coverage

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10/15/08
Publicly Traded Partnerships

To address what they viewed as a loophole in the law, Senators Baucus and Grassley introduced S. 1624, which would remove the ability for publicly-traded partnerships performing asset-management and related services to avoid being taxed ...

Source: losangelesinvestment Weblog
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09/25/08
SEC bashed over short-selling ban - MarketWatch

S. 1624, 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 ...

Source: MarketWatch Community - Comments - dryheavesdaily
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07/28/08
K.K.R. Digs Deeper to Keep Tabs on Washington - Mergers ...

A bill in the Senate, S. 1624, would raise taxes on publicly traded buyout firms such as Blackstone and Fortress Investment Group. That is surely of great interest to K.K.R., which is set to become a publicly traded buyout firm itself. ...

Source: DealBook
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