(Reuters) A group of liberal political activists, lawmakers and “patriotic millionaires” are hoping to end what they call “one of Wall Street’s most beloved tax loopholes” in New York and other states. At issue is so-called carried interest, or how the share of profits from an investment paid to managers of private equity and other funds is taxed. That money, after adjustments, is treated as a capital gain and taxed at a rate significantly lower than the one for the income of wage earners….
Coalition Attempts to Close Private Fund Manager U.S. Tax Loophole
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