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...

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