Source: https://www.velaw.com/What-We-Do/MLP-Qualifying-Income/
Timestamp: 2018-03-19 18:28:52
Document Index: 129614488

Matched Legal Cases: ['§7704', '§7704', '§1', '§1', '§7704', '§1', '§7704']

MLP Qualifying Income - Vinson & Elkins LLP
Treatment of an MLP as a partnership for federal income tax purposes requires that 90 percent or more of the MLP’s gross income for every taxable year consists of “qualifying income.” In the context of a public offering, MLP investors require a high level of certainty with respect to the qualifying income nature of the MLP’s income-generating activities. If there is uncertainty as to the nature of an activity, it is possible to seek a private letter ruling (PLR) from the Internal Revenue Service with respect to the treatment of such activity.
Internal Revenue Code §7704 - The statutory qualifying income rule.
Legislative History - Compilation of congressional reports regarding IRC §7704.
Treasury Regulations §1.7704-3 - Existing treasury regulations regarding the qualifying income requirement.
Proposed Treasury Regulations §1.7704-4 - New proposed standards for qualifying income under IRC §7704(d)(1)(E)
Final Treasury Regulations §1.7704-4 - Final standards for qualifying income under IRC §7704(d)(1)(E)
Comments by Type of Submission | Comments by Qualifying Income Category | Comments by Date
Congress of the United States - State of Louisiana Members of Congress July 20, 2015 Processing and Refining
Targa Resource Partners LP June 22, 2015