What’s a U.S. Trade or Business? Analyzing YA Global

William McRae of Cleary Gottlieb discusses the U.S. Tax Court’s decision in YA Global Investments v. Commissioner and what it means for the private equity sector.

For additional coverage, read these articles in Tax Notes:

• Tax Pro Questions Tax Court’s Dealer Analysis in YA Global
• Tax Pros Weigh Impact of YA Global on Fund Industry
• YA Global Footnote Shouldn’t Be Overlooked
• Cayman Islands Hedge Fund Liable for Tax Bill of Over $57 Million

Follow us on Twitter:

• David Stewart: @TaxStew
• Tax Notes: @TaxNotes

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This episode is sponsored by the University of California Irvine School of Law Graduate Tax Program. For more information, visit law.uci.edu/gradtax.

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Credits
Host: David D. Stewart
Executive Producers: Jasper B. Smith, Paige Jones
Showrunner: Jordan Parrish
Audio Engineers: Jordan Parrish, Peyton Rhodes
Guest Relations: Alexis Hart