State legislators look to close ‘carried interest tax loophole’

REP. AARON REGUNBERG, left, D-Providence, stands with supporters announcing a bill to tax carried interest income like earned income. / COURTESY AARON REGUNBERG
REP. AARON REGUNBERG, left, D-Providence, stands with supporters announcing a bill to tax carried interest income like earned income. / COURTESY AARON REGUNBERG
PROVIDENCE – State legislators have introduced legislation to tax carried interest income the same as earned income so money managers will “pay their fair share.” The legislation, introduced both in the House and Senate, would establish a 19 percent “fairness fee,” or tax, on such investment management services as hedge funds and private equity. The…

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