Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook

Victim of Naked Face-Eater Fights for Life Miami police are quiet on details in the aftermath of gruesome attack »

Blackstone Partners Profit on IPO Taxes

Loopholes pay off for buyout firm managers after $3.7 bil offering

By Sam Gale Rosen, Newser Staff

Posted Jul 13, 2007 10:54 AM CDT

(Newser) – The Blackstone Group's partners have expertly negotiated a labyrinth of loopholes to dodge taxes on $3.7 billion they raised with an IPO last month, the Times reports. The maneuver comes as congress discusses what to tax private equity managers, but analysts say the rate... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Victim of Naked Face-Eater Fights for Life

New York Times (Source Grid »)

Blackstone Group • taxes • IPO • capital gains tax

More Newser Stories

KKR Joins IPO Party

After Blackstone's triumph, barbarians at the public gate

(NEWSER) - Corporate raiders Kohlberg Kravis Roberts & Co. have announced an initial public offering, on the heels of a wildly successful $34B IPO by rival Blackstone yesterday. The mammoth LBO group, whose boss Henry Kravis maintains a well known rivalry with Blackstone's Stephen Schwarzmann, waited to make sure Blackstone swam before making the announcement. More»

Senate Puts Blackstone on Notice

Tax maneuver may derail IPO, transform private equity

(NEWSER) - Less than 2 weeks ahead of Blackstone's IPO, bipartisan legislation introduced in the Senate yesterday threatens to hamper or halt the avidly anticipated stock sale. The private equity behemoth's tax bill would more than double if the measure—under which partnerships like Blackstone would pay the 35% corporate rate rather than the 15% capital gains rate that currently applies—passes. More»

Facebook Co-Founder Gives Up US Citizenship

Eduardo Saverin aims to save on taxes

(NEWSER) - One of the billionaire co-founders of Facebook has renounced his US citizenship in a bid to slash his tax bill ahead of the gigantic IPO. Eduardo Saverin, 30, owns about 4% of the social network—a chunk that could be worth as much as $3.84 billion, reports Bloomberg . “Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,” says a spokesman for Saverin, who is a native of Brazil and met Mark Zuckerberg at Harvard. He moved to Singapore in 2009. More»

Buffett Dares GOP to Donate More Taxes

Says he'll match them, and 'even go 3 for 1 for McConnell'

(NEWSER) - Warren Buffett's ready to donate money to pay down the national debt—provided Republicans lawmakers do so first. When Buffett called for higher taxes on the rich last year, Mitch McConnell and many other Republicans told him to " send in a check ," and John Thune even introduced the "Buffett Rule Act," adding a tax form option to donate. Now, Buffett tells Time that if any Republican members of Congress donate, he'll match them 1-for-1. "I'll even go 3 for 1 for McConnell." More»

Rich People Don't Pay Less Taxes Than Secretaries

Some do, but most don't, AP fact check finds

(NEWSER) - Listening to Barack Obama's speech yesterday , you might have come away with the impression that millionaires everywhere pay less in taxes than their secretaries, as Warren Buffett has oft claimed. But that's hardly the case, according to an AP fact check. The claim relies on the fact that capital gains are taxed at a maximum of 15%, so those who gain most of their income through investments avoid some taxes. Others take advantage of various breaks and deductions; 1,470 millionaires paid no income tax last year. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Blackstone Partners Profit on IPO Taxes

Loopholes pay off for buyout firm managers after $3.7 bil offering

Related Links

Blackstone Group • taxes • IPO • capital gains tax

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

KKR Joins IPO Party

After Blackstone's triumph, barbarians at the public gate

Senate Puts Blackstone on Notice

Tax maneuver may derail IPO, transform private equity

Facebook Co-Founder Gives Up US Citizenship

Eduardo Saverin aims to save on taxes

Buffett Dares GOP to Donate More Taxes

Says he'll match them, and 'even go 3 for 1 for McConnell'

Rich People Don't Pay Less Taxes Than Secretaries

Some do, but most don't, AP fact check finds

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?