Hot topics in asset management tax

Significant tax developments are creating new planning considerations and potential exposure for asset managers. Join Grant Thornton specialists for a timely discussion of several important issues affecting the industry, including the 5th Circuit’s ruling in Sirius Solutions v. Commissioner, California’s market-based sourcing regulations, and other current tax developments impacting asset managers.

We’ll examine how the Sirius Solutions decision challenges the IRS’s long-standing position on the limited partner exemption from self-employment tax, creating new planning opportunities while also introducing potential risk for partnerships, LLCs, and LLPs. We’ll also discuss California’s sourcing rules and what they mean for apportionment, compliance, and state tax exposure.

In addition, our speakers will provide updates on other emerging federal and state tax developments, including New York State budget proposals and related considerations for asset managers. Attendees will gain practical insights into how organizations are evaluating these developments, reassessing current positions, and preparing for possible regulatory and enforcement changes ahead.