Eddie Lampert Looks to Avoid 40% Capital Gains Tax
| June 8th, 2010 | ||
| Eddie Lampert, founder and CEO of ESL Partners LP, may have discovered a way to avoid higher taxes on hedge fund and private equity firms. According to Bloomberg, the billionaire is taking direct ownership of $829 million of Sears Holdings Corp. (among others), which only requires a 15% capital gains tax rather than the almost 40% rate that will take effect next year. By holding the shares and transferring them to his general partners, Mr. Lampert can escape this higher tax rate. | ||
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ESL Investments |
Related People: Eddie Lampert;
Related Entities: ESL Institutional Partners;
Related Article Tags: Investment Management, Fund Manager and General Financial News
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