Friday, 22 August 2014
Last updated 15 hours ago
Sep 18 2012 | 11:04am ET
New York City has quietly dropped plans that could have increased taxes on hedge fund managers based in the Big Apple.
The city's Department of Finance late last year decided it would no longer allow hedge fund and private equity fund managers to claim an exemption from its unincorporated business tax, a 4% levy on expenses such as staff compensation. But now, Tax Analysts reports, the city, the world's largest hedge fund center, has changed its mind and will not change the way it audits hedge funds.
"Expense attribution remains an ongoing area we review, but we are not pursuing an audit program specific to the hedge fund industry at this time," Owen Stone, press secretary for the department, told Tax Analysts.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note