BioCentury
ARTICLE | Finance

All carried away

VC carried interest closer to being taxed as ordinary income

May 24, 2010 7:00 AM UTC

Legislation to change the tax treatment of carried interest made it one step closer to becoming law. Last week, Senate Finance Committee Chairman Max Baucus (D-Mont.) and House Ways and Means Committee Chairman Sander Levin (D-Mich.) released the American Jobs and Closing Tax Loopholes Act (H.R. 4213), which is based on amendments to the original House bill.

The bill is an attempt at a compromise, but VCs contacted by Ebb & Flow said it still leaves a lot to be desired...