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September 15, 2022, Deadline For The New York State Pass-Through Entity Tax Election for 2022 AND New York City Pass-Through Entity Tax Can Now Apply to 2022

2022 New York State Pass-Through Entity Election Deadline The original deadline to make the New York State pass-through entity tax (“NYS PTET”) election for 2022 was March 15, 2022, but in May was extended to September 15, 2022. (Please click here for our May 2022 alert on the extension of the NYS PTET deadline.) An…

Client Alerts | September 1, 2022 | Hedge Funds | Private Equity Funds

Update: 2022 Election Deadline for New York State Elective Pass-Through Entity Tax Extended to September 15, 2022

NYS PTET Election Deadline for 2022 Extended to September 15, 2022 On May 6, 2022, Governor Hochul signed into law a bill that extends the New York State Pass-Through Entity Tax (the “NYS PTET”) election deadline for the 2022 tax year to September 15, 2022. Previously, the election deadline for 2022 was March 15, 2022.…

Client Alerts | May 17, 2022 | Hedge Funds | Private Equity Funds

Certain Fund Managers May Be Required To File TIC Form SHC By March 4, 2022

Fund managers may be required to file Treasury International Capital (“TIC”) Form SHC, Report of U.S. Ownership of Foreign Securities, Including Selected Money Market Instruments (“Form SHC”), for 2021 by March 4, 2022, based on the fair value of foreign assets owned by U.S. persons determined as of December 31, 2021. For 2021 and other benchmark…

Client Alerts | February 11, 2022 | Hedge Funds | Private Equity Funds

Post Year-End Tax Issues and Planning to Consider

This tax alert briefly highlights certain tax issues and planning that hedge and private equity fund managers and high-net-worth individuals should consider (or reconsider) now that we are in the new year. Our 2021 year-end tax alert highlighted many items to consider and potential tax moves to take before year-end and highlighted proposed tax changes.…

Client Alerts | January 10, 2022 | Hedge Funds | High Net Worth Individual Planning | Private Equity Funds

TALF 2.0: Fed Revives Term Asset-Backed Loan Facility

On March 23, 2020, the Federal Reserve Board (the “Fed”) authorized the revival of its Term Asset-Backed Loan Facility (“TALF 2.0”) previously established following the 2008 financial crisis. TALF 2.0 is a credit facility intended to support the asset-backed securities (“ABS”) markets for consumers and businesses by creating a new source of stable funding for investors…

Client Alerts | April 1, 2020 | Special Situations and Credit | Private Equity Funds