Uncertainty around SandRidge’s well-water treatment and disposal business is dispelled SandRidge Energy (ticker: SD) announced that the Internal Revenue Service decided to grant it a positive private letter ruling (PLR) in an 8-K filed by the company Monday. A decision on SandRidge’s well-water treatment and disposal business was snared for more than a year when the IRS decided to initiate
The IRS issued a proposed rule on the scope of qualifying income for MLPs In April of 2014, the IRS put a temporary pause on private letter rulings (PLRs) regarding what business qualified for tax-free inclusion in energy master limited partnerships (MLPs). The IRS treats an entity as a partnership so long as 90% or more of the MLP’s gross
The IRS lifted the pause on issuing private letter rulings allowing companies to form MLPs with their assets The Internal Revenue Service lifted its ‘pause’ on private letter rulings (PLRs) regarding what businesses qualify for tax-free inclusion in energy master limited partnerships (MLPs). The IRS decided to put a pause on issuing PLRs last April after a huge spike in
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