Here’s an update on the carried interest debate in the Journal. I’m quoted at the end.
This Article argues that Congress should change the tax treatment of carried interest. The Article was widely credited for sparking the carried interest tax debate.
The House has voted (again) to change the treatment of carried interest earned from managing investment funds from capital gain to ordinary income. I’ve heard the bill has a better shot in the Senate this time than in 2007, but one shouldn’t underestimate the capacity of the Private Equity Council to lobby for the status [...]
I was on NPR’s On Point today – my segment begins around 23:30.
Peter Brooke: Private Equity Now | WBUR and NPR – On Point with Tom Ashbrook.
I was pleased to hear Mr. Brooke agree with me that paying tax on carried interest at 15% wasn’t appropriate. In fact, we seemed to agree about an awful [...]
A brief review of Schultz’s work on the concept of investments in human capital, and an introduction to some related tax policy questions.
Darian Ibrahim has posted a new paper describing the market and function for venture debt. One key insight is that venture lenders rely on the reputation of the VC investors in making the loan — they are relying on the VC coming back to fund the next stage as the source of repayment of the [...]
Interesting abstract – I’ll have to read the paper to figure out why the hostage strategy can’t be replicated by contract outside the nonprofit form.
In a well-functioning stock market, issuing firms publicly disclose all relevant information to investors and prices approximate the true value of those firms. This disclosure generates liquidity as investors large and [...]
This Article argues that Congress should change the tax treatment of carried interest. The Article was widely credited for sparking the carried interest tax debate.
This paper analyzes the 2007 Senate proposal to change the tax treatment of (and impose a corporate-level tax on) certain investment firms organized as publicly-traded partnerships.
This Article argues that corporate deal structures sometimes have an unappreciated branding effect. The Article includes case studies of the Google IPO, the Ben & Jerry’s IPO, an executive compensation contract, and a failed reincorporation.
This Article argues for the repeal of section 892, an anachronistic provision of the Internal Revenue Code which offers an unconditional tax exemption when a foreign sovereign earns income from noncommercial activities in the United States.
This Article examines why start-ups are organized as corporations rather than partnerships for tax purposes.
Here’s an update on the carried interest debate in the Journal. I’m quoted at the end.
NYT Dealbook on my sovereign wealth fund paper.
Profile by Andrew Ross Sorkin.
I was on NPR’s On Point today – my segment begins around 23:30.
Peter Brooke: Private Equity Now | WBUR and NPR – On Point with Tom Ashbrook.
I was pleased to hear Mr. Brooke agree with me that paying tax on carried interest at 15% wasn’t appropriate. In fact, we seemed to agree about an awful [...]
I teach Deals, Venture Capital & Private Equity, Tax Policy, and a seminar on Higher Education. I have also taught Federal Income Tax, Corporate Tax, and Partnership Tax.
I joined the faculty of the University of Colorado in 2006. I have also taught at the University of Illinois (tenure-track), UCLA (tenure-track), Georgetown (as a visiting professor), and Columbia (as a research fellow). In the Fall of 2010, I will be a visiting professor at the NYU School of Law.
My research focuses on the structuring of financial transactions, with particular emphasis on the effects of tax planning and regulatory gamesmanship.
This spring, I will be workshopping a new article, "Regulatory Craftsmanship," at the University of Toronto, Emory, and the University of Minnesota. The article provides a theoretical framework for understanding how lawyers create value for their clients by exploiting the gap between the economics of a deal and its regulatory treatment.
© 2009 Victor Fleischer. All Rights Reserved.
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