Obama Tax Proposal Would Spell Doom For Oil, Gas MLPs

Law360, New York (February 4, 2015, 5:03 PM EST) -- Buried in President Barack Obama's 2016 budget proposal is a pitch to tax fossil fuel master limited partnerships as corporations, which would remove the key incentive of the tax-friendly structure that has found widespread popularity within the oil and gas sector and could kill off investor interest in such companies, experts say.

Virtually all of the $4 billion in oil and gas tax breaks Obama proposed cutting in his budget plan on Monday have appeared in previous budget proposals, with one exception: a single line item that proposes to treat publicly traded partnerships for fossil fuels as C corporations starting in...

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