• Representative Levin to Reintroduce UBTI Legislation; Would Provide DFI Relief for Investors in Offshore Funds
  • April 29, 2009 | Authors: Richard J. Bronstein; David W. Mayo; Peter J. Rothenberg; Jeffrey B. Samuels; David R. Sicular
  • Law Firm: Paul, Weiss, Rifkind, Wharton & Garrison LLP - New York Office
  • In March we advised our clients and friends that Senator Carl Levin had introduced a bill aimed at restricting the use of offshore companies for purposes of U.S. tax planning. One consequence of the proposal would be to encourage hedge funds organized as offshore corporations to restructure themselves as passthrough vehicles.