Leonard W. Wood is a director of Atlanta-based WoodPartners LLC and is the chairman of the National Association ofHome Builders' Multifamily Leadership Board. He may be contacted at[email protected].
Multifamily housing developers, builders and property managersshould be extremely concerned about a Congressional proposal thatwould change the tax treatment of private equity.
The consumer press has presented a somewhat skewed take on theproposed change–which involves the tax treatment of what is called“carried interest”–by focusing mostly on the proposal's effect onthe taxation of capital gains earned by hedge funds, venturecapital firms and private equity businesses. Less publicized,however, is how the proposal will negatively affect most realestate partnerships, including the development and sale ofmultifamily assets.
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