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Act Now! Tell Congress to Oppose a Tax Hike on Commercial Real Estate
The House of Representatives plans to take up legislation as early as tomorrow that would raise taxes considerably on commercial real estate by changing the tax treatment of the carried interest in a partnership from a capital gain (currently taxed at a 15% rate) to that of ordinary income (nearly 40%). Carried interest is the additional percentage of the profits offered to the general partner as incentive to make the investment prosperous. It is paid only when, and if, the real estate investment actually is successful.
If put in place, this tax increase would severely impact the commercial real estate industry by hindering investment and risk taking by commercial real estate entrepreneurs. BOMA International needs your help to tell Congress about the unintended consequences of this tax hike.
Contact your representatives and senators immediately and tell them to oppose raising taxes on the commercial real estate industry.