Published: Dec 9th, 2009

Carried Interest is back in play

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 quo.

House Votes to Raise Fund Managers’ Taxes – DealBook Blog – NYTimes.com.

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“the intellectual godfather of private equity tax hikes” – Dealbreaker

I currently teach Deals, Corporate Tax, and Partnership Tax. I have also taught Federal Income Tax, Tax Policy, Venture Capital & Private Equity, and various seminars.

I joined the faculty of the University of Colorado in 2006. I have also taught at UCLA, Georgetown, Illinois, and Columbia. In the Fall of 2010, I will be a visiting professor at the NYU School of Law.

In 2007, a draft version of my paper on carried interest helped prompt Congress to propose Section 710 of the tax code, which would tax a portion of carried interest as ordinary income rather than capital gain. The paper, Two and Twenty: Taxing Partnership Profits in Private Equity Funds, was later published in the NYU Law Review. My research generally focuses on tax policy, investment funds, and entrepreneurship.

This summer, I am working on papers analyzing the tax treatment of founders' stock and entrepreneurship under an income tax and consumption tax.

A Taxing Blog

Victor Fleischer — Associate Professor of Law, University of Colorado.

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