New Rules on MLPs & Qualifying Income: What Oil Services and Exploration Companies Need to Know
Summary:
On Tuesday, May 5, 2015, the Internal Revenue Service (“IRS”) released proposed regulations defining qualifying income for Master Limited Partnerships (“MLPs”). MLPs are publicly traded partnerships that are taxed as a partnership rather than a corporation. Being taxed as a MLP has many advantages. While shareholders in a corporation face double taxation ̶ paying taxes … Continue Reading
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Keywords:
corporation face, double taxation, Exploration Companies Need, Internal Revenue Service, Master Limited Partnerships, Mining, New Rules, Oil Services, Qualifying Income