Law360 (July 31, 2020, 6:49 PM EDT) -- The D.C. Circuit on Friday backed a Federal Energy Regulatory Commission policy that eliminates an income tax allowance for pipeline master limited partnerships, saying the agency properly used it to strip the tax perk from a Kinder Morgan pipeline MLP.
FERC enacted a policy in 2018 that no longer allows pipeline MLPs, which don't pay corporate-level taxes, to recover income tax allowances in their cost-of-service rates. Kinder Morgan's SFPP LP argued that FERC wrongly used that policy to deny the company its income tax allowance, but a D.C. Circuit panel said Friday that the denial, and the policy itself, are consistent with...
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