Can Hank Paulson avoid tax on $600MM unrealized capital gain upon becoming a government employee? - paulson avoided tax
A tax expert said the following:
"Hank Paulson, the new Finance Minister, with a personal fortune of $ 700,000,000, the right to a whole new exemption only for those in the government is entitled to sell all 700,000, has received U.S. $ 000 of their assets and trading of Index funds, or bonds, and not paid, it is true, zero tax on profits of U.S. $ 600,000,000.
I understand the gist of the matter is as follows:
- Released new employees of the authority of government taxes on capital gains from the sale of government bonds realized.
- $ 700MM Paulson Goldman share, based on $ 100MM.
- Paulson, Goldman was able to negotiate its share of government bonds, and the exchange of securities is not taxable event, so that the base Treasury dollar would 100MM.
- Paulson, may sell U.S. Treasuries of $ 700MM, but as employees of federal pre-released his tax profit of 600 mm.
This analysis is correct?
Paulson Avoided Tax Can Hank Paulson Avoid Tax On $600MM Unrealized Capital Gain Upon Becoming A Government Employee?
3 comments:
I read an article on this topic. Since my interest, I saw.
Section 1043 of the Internal Revenue Code was set in 1989. Allows you to move the employees of the executive branch - not avoid - taxes on profits when they are forced to their property because the rules for sale of conflict of interest. The profits must be invested in government securities or approved mutual funds.
The base of the reinvestment property is set so that the deferred gain will be taxed if the goods are removed.
I know of no rule that the non-taxable gain because it is a federal employee.
I read an article on this topic. Since my interest, I saw.
Section 1043 of the Internal Revenue Code was set in 1989. Allows you to move the employees of the executive branch - not avoid - taxes on profits when they are forced to their property because the rules for sale of conflict of interest. The profits must be invested in government securities or approved mutual funds.
The base of the reinvestment property is set so that the deferred gain will be taxed if the goods are removed.
I know of no rule that the non-taxable gain because it is a federal employee.
I try to follow the new federal tax law countries, and I do not have a law with such a provision added.
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