Rep. Sander M. Levin
Mr. Speaker, I introduce today the Carried Interest Fairness Act of 2012.
The Carried Interest Fairness Act provides that the ``carried interest'' compensation received by investment fund managers will be taxed at ordinary income rates and treated as wage income subject to employment taxes. In exchange for providing the service of managing their investors' assets, fund managers often take a portion of a fund's profits, or a carried interest, usually equal to 20 percent of such profits. The bill clarifies that this income is subject to ordinary income tax rates rather than the much lower capital gains rate. For a technical explanation of the Carried Interest Fairness Act of 2012, please visit my website at .www.house.gov/levin
Similar entries
-
Temporary Tax Relief Act Of 2007
November 9, 2007 -
Tax Extenders Act Of 2009
December 9, 2009 -
Alternative Minimum Tax Relief Act Of 2008
June 25, 2008 -
Introduction Of “The International Competitiveness Act”
March 28, 2001 -
The Debt Ceiling
June 30, 2011 -
Introduction Of The Reit Investment Diversification And Empowerment Act
February 16, 2007 -
Approving The Renewal Of Import Restrictions Contained In The Burmese Freedom And Democracy Act Of 2003
September 15, 2011 -
Reducing The Budget Deficit
September 19, 2011 -
Introduction Of Remedial Ancsa Settlement Trust Legislation
June 26, 1998 -
Introduction Of Short Against The Box Legislation
February 26, 1997