I Spy an ISPI — Proposed Carried Interest Legislation May Apply to More Businesses and Transactions Than You Think (KPMG)

July 2010

KEYWORDS: tax, carried interest, partnership, partnership taxation, enterprise value

Authors:

Carol Kulish Harvey, James B.Sowell, Deborah Fields

Organizations:
  • KPMG

Summary:
As currently drafted, proposed carried interest legislation could apply to interests in partnerships in virtually any kind of business and could fundamentally change how partnerships are taxed. This article first provides a brief background regarding the proposed legislation. Then it explores the potential breadth of certain definitional and operative rules contained in the most recent iteration of the legislation.

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