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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 requests in order to develop standards for deciding whether or not a company qualified to form a MLP.

Forming MLPs has become an increasingly popular move among energy c...

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