NYC Changes Stance on UBT Attributable to Hedge Fund Managers

Simon RivelesHedge Funds, Uncategorized, Unincorporated Business Tax

Certain New York City based hedge fund management companies have recently been audited with respect to how they account for certain expenses under the City’s Unincorporated Business Tax (“UBT”). Since a statutory amendment to the UBT law was passed over 15 years ago, hedge fund management companies located in NYC have bifurcated the structure of their operations by creating who advisory entities for the fund.  …