IRS ruling outlines path to tax-advantaged structure for US olefins

Shares of US ethylene producers rallied earlier this month after the release of an IRS ruling that permits olefins production to operate within tax-advantaged, publicly traded partnerships. Partnership?: IRS tax ruling allows natural gas liquids crackers in publicly traded MLPs. The IRS letter was in response to a request from an undisclosed publicly traded partnership that asked for a ruling confirming that income derived from processing of natural gas liquids (NGLs) into olefins will constitute qualifying income for a publicly traded partnership. “We...

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