Aug. 20, 2013
Private equity firms may need to ratchet up 'passiveness'
In light of a recent circuit court decision, private equity firms may start to be - either in reality or at least in presentation - more in the back seat and less behind the wheel.





Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Is private equity a business? Most people - including Mitt Romney - would say yes. Still, the question can take on particular meaning in the tax world. In tax law, what is a "trade or business" can dramatically impact tax deductions. Usually you want to qualify for those deductions, but sometimes not.
The trade or business phrase can be even more consequential when it comes to liability under the pension laws. Employer...
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