Partner Elisheva Teitz Quoted in SNL Financial Services Daily
May 17, 2007
SNL Financial Services Daily quoted Partner Elisheva Teitz in an article titled, "Revisions to Private Equity Income Taxation Could 'Eviscerate' Industry." Ms. Teitz discussed possible changes to tax law which could raise fund manager compensation taxes and affect private equity firms' IPOs by imposing corporate taxes. The article addressed the review of "carried interest," which could reclassify 20% of investment returns that funds use as manager payment, as normal income tax rather than as capital gains. Ms. Teitz explained that the removal of carried interest would weaken the financial rewards of private equity, as it is an important aspect of salaries and fees. Without carried interest, Ms. Teitz opined that the industry would suffer.