On August 19, 2019, the American Institute of Certified Public Accountants (AICPA) issued valuation guidance for investment companies on how to value their portfolio company investments. The guide, titled “Valuation of Portfolio Company Investments of Venture Capital and Private Equity...
Read MoreNew Jersey has made a number of significant changes to their tax law. Importantly, upon passing Assembly Bill A4202 last July, the state of New Jersey will soon require a combined taxpayer group to file one singular state return. The new filing requirement begins for tax years ending on or after...
Read MoreThe Department of Treasury and the IRS have issued final regulations related to Regulated Investment Company (RIC) qualification testing for RICs invested in foreign corporations treated for U.S. federal income tax purposes as controlled foreign corporations (CFCs) or passive foreign investment...
Read MoreThe Treasury Department recently issued proposed regulations that address the flow through of qualified business income to shareholders of Regulated Investment Companies (RICs) for purposes of Section 199A. This section of the Tax Cuts and Jobs Act (TCJA) allows for up to a 20% deduction on...
Read MoreOn January 18, 2019, the Treasury Department issued proposed regulation Section 1.199A-3 related to qualified business income, qualified Real Estate Investment Trust (REIT) dividends and qualified Publicly Traded Partnership (PTP) income. These regulations specifically address the flow through of...
Read MoreOn November 26, 2018, the IRS released proposed regulations on the Tax Cuts and Jobs Act’s (TCJA) business interest expense deduction limitation. Specific to the investment industry, the guidance will impact regulated investment companies (RICs) using debt — most notably many closed...
Read MoreRegulated Investment Companies (RICs) are taxed as corporations, where the entity-level corporate income tax is typically eliminated by applying the dividends paid deduction (DPD) allowed via Internal Revenue Code (IRC) Section 561. At a basic level, as long as a RIC distributes to...
Read MoreOn December 1, 2017, the Commodity Futures Trading Commission announced its agreement to allow CBOE Global Markets, Inc. and CME Group, Inc. to list bitcoin futures contracts on their exchanges. The futures contracts, the first to be listed on traditional U.S. regulated exchanges, are expected to...
Read MoreAs year-end approaches, many mutual fund investors understand that their investments in mutual funds may generate dividend income, both ordinary and capital gains, in November or December. However, particularly for new investors and fund managers, below is an overview that provides an...
Read MoreThe obligation for registered investment companies (RICs) to pay foreign capital gains tax is not new by any means, but it is gaining more attention lately, making it imperative for fund management to take note. Foreign tax withholding on interest and dividends has been and continues to...
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