Fracking Services Likely To Make The Cut In MLP Guidance
Law360, New York (March 19, 2015, 3:26 PM EDT) -- Regulations promised soon by the Internal Revenue Service on the definition of qualifying income for master limited partnerships will likely include fracking service providers among the entities that can take advantage of the favorable tax status, according to experts.
Energy services companies have been worried about being squeezed out of the MLP game since the IRS last year suspended private letter rulings on income that qualified for the standard, which is meant to encourage mineral and resource development.
But the agency has already determined that some fracking services are seen as integral to the development of oil and gas resources and...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!