News & Analysis as of

Passive Activity

Will equity capital markets hold their strength?

Global equity capital markets have been surprisingly rosy so far this year, despite their fair share of challenges. Maartje Bus, Head of Capital Markets, examines the latest developments and the IPO outlook....more

The Coming Storm? CFIUS Reform and Considerations for Private Equity

by Dechert LLP on

As the United States Congress debates new legislation to strengthen reviews of cross-border transactions for potential national security concerns, the Committee on Foreign Investment in the United States (CFIUS or the...more

Tax Court Win: Stockbroker Meets Test Qualifying as Real Estate Professional

by Moskowitz LLP on

Qualifying as a real estate professional can be the difference between being able to deduct losses from your real estate activities and having passive activity losses that you cannot deduct. For a Florida stockbroker with...more

Tax Court Disallows Rental Loss Deduction To Taxpayer Who Failed To Qualify As A Real Estate Professional

by Moskowitz LLP on

In our last post, we explained how an architect proved to the Tax Court that he qualified as a real estate professional, and was subsequently permitted to deduct passive activity losses from his real estate activities. Here,...more

French Finance Bill for 2018 – Changes Impacting High Net Worth Individuals

by White & Case LLP on

The French finance bill for 2018 (the "Bill") enacts several tax changes announced by President Emmanuel Macron. While the Bill contains significant changes impacting corporate and individuals' taxpayers, this overview is...more

Control of a Set-aside Entity

by Williams Mullen on

In this episode of GovCon Perspectives, Will Wozniak talks with Shayn Fernandez about what to do when passive investments raise questions of affiliation. Protestors often raise issues of affiliation in the form of size...more

Passive Investors in Payday Lending Operations Get Partial Reprieve

While tossing certain claims brought by Pennsylvania’s attorney general, a federal judge denied part of a motion to dismiss brought by online short-term lenders in an action accusing them of “renting” Native American tribes...more

BlackRock Talks…And U.S. Companies Must Listen

In BlackRock CEO and Co-founder Larry Fink’s annual letter to companies on January 16, he issued a call to action for companies to have “a clear sense of purpose.” To BlackRock, having “a clear sense of purpose” means much...more

5 Helpful Things to Know About the New Limitation on Claiming Losses

Last month, President Trump signed into law the much publicized Tax Cut and Jobs Act. In part of our ongoing series discussing the changes made by the Act, the following answers five common questions regarding the new...more

Blackrock Talks … And U.S. Companies Must Listen: The Revolution In U.S. Equity Markets And Its Increasingly Important Impact On...

On January 16, the day after the Martin Luther King Jr. holiday weekend, BlackRock's CEO and Co-founder, Larry Fink, released his annual letter to companies...more

The platform revolution changing the financial industry

Platform technology is revolutionizing the financial industry in the same way Airbnb has changed the rental market. How is co-innovation helping our clients address regulation, technology trends and other challenges?...more

Major tax bill clears U.S. Senate by 51-49 margin, Part I

by Moskowitz LLP on

A 500-page long Republican tax bill, with numerous and significant last minute changes – as well as some illegible handwritten edits in the margins – cleared the U.S. Senate in the early hours of Saturday morning, by a 51-49...more

FERC Confirms that FPA Section 203 Approval is Not Required for Tax Equity Investment

by Foley & Lardner LLP on

Federal Energy Regulatory Commission (“FERC”) has issued a declaratory order confirming that no approval under Section 203 of the Federal Power Act (“FPA”) is required in connection with the transfer or issuance of passive...more

FERC Holds Certain Passive Equity Interests in Public Utilities Are “Non-Voting Securities” for Purposes of Section 203 of the...

On October 4, 2017, in a decision with significant implications for the energy project finance community, the Federal Energy Regulatory Commission (FERC or the “Commission”) granted a petition for declaratory order filed by...more

Tax Equity Investors Wave Goodbye to FPA Section 203

Tax equity investments, and potentially other passive investments, in renewable energy just became that much easier to make. Today, in response to a petition for declaratory order filed in January 2017 by a coalition of...more

LinkedIn Over Her Head: When Broadcasting a Change in Employment Counts as Solicitation

by Fisher Phillips on

A recent blog post discussed an Illinois state court decision evaluating an employer’s claim against a former employee for breach of a non-solicitation agreement, when the employee had added former co-workers on LinkedIn...more

Who Poked Whom First: Does a Friend Request or Social Media Invite Count as Solicitation?

by Fisher Phillips on

When Gregory Gelineau quit his job at an Illinois-based insurance company to work for a competitor, he sent LinkedIn invitations to a group of his former co-workers. In response, Gelineau’s former company sued him. The...more

Growing Concerns with Proposed Amendments Affecting Private Businesses and their Shareholders

by Bennett Jones LLP on

On July 18, 2017, Minister of Finance Bill Morneau announced sweeping changes to the way private businesses and their shareholders are taxed. The Government's proposals encompass three broad areas: (1) income sprinkling...more

Further Update on Federal Taxation - Australian Infrastructure Investment and Privatisation

by Jones Day on

Last month, we reported in our White Paper on taxation proposals directed at infrastructure and utility privatisation transactions. Since we wrote, the Commonwealth Treasury ("Treasury") has published a policy paper directed...more

Does “Act” Mean Also a Failure to Act?

by Dechert LLP on

No, says the U.S. Court of Appeals for the Tenth Circuit in In re Cowen, adopting the minority rule and parting ways with four other Courts of Appeals. The automatic stay provision of the Bankruptcy Code addressed in Cowen...more

California Court of Appeal Holds Doing Business ? Any Activity Engaged In for Pecuniary Gain

On January 12, 2017, the California Court of Appeal held in a published opinion that a taxpayer passively holding a 0.2 percent interest in a California-based limited liability company (CA LLC) was not “doing business” in the...more

O Frabjous Day! Court Holds Passive Member Is Not “Doing Business”

by Allen Matkins on

The State of California imposes its franchise tax on every corporation (other than a bank, financial corporation or exempt corporation) that is “doing business” in California. Cal. Rev. & Tax Code § 23151. This tax is...more

SBA Expands and Clarifies Ability of SBICs to Finance in Passive Businesses

by Pepper Hamilton LLP on

New SBA rule affects the holding company and the blocker corporation exceptions for SBICs’ financing passive businesses. On December 28, the U.S. Small Business Administration (SBA) released a Final Rule modifying its...more

Renewable Energy Investor Group Asks FERC to Designate Certain Passive Equity Interests in Public Utilities as “Non-Voting...

On December 9, 2016, a group of investors in renewable energy projects (“Petitioners”) asked the Federal Energy Regulatory Commission (FERC) to find that certain non-managing (i.e., passive) “tax equity” interests in public...more

Is Being a Real Estate Agent Sufficient to Show Material Participation under the Passive Activity Loss Rules?

by Miles & Stockbridge P.C. on

In the recently decided case of Gragg v. United States, 118 AFTR 2d 2016-5091 (9th Cir. 2016), the U.S. Court of Appeals for the Ninth Circuit held that a taxpayer’s activities as a real estate professional were insufficient...more

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