SandRidge -2.6%, says MLP tax request held up at IRS


SandRidge Energy (SD -2.6%) says its letter asking the IRS whether its water disposal business qualifies as tax-free for inclusion in a possible MLP has run into delays at the agency that could go on for months.

The IRS appears to be more closely reviewing the scope of assets that can qualify as tax-free for MLPs and pausing the issuance of private letter rulings that companies normally ask for when setting up the structures.

SD is exploring ways, including forming an MLP, to unlock the value of its fracking water disposal business it values at ~$1B.

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Comments (5)
  • WPSPIKER
    , contributor
    Comments (1149) | Send Message
     
    Under this Oblamo administration the IRS & SEC and other agencies are the most unfriendly to business of any prior (including the Carter administration!._)
    7 Apr 2014, 04:15 PM Reply Like
  • jdg1956
    , contributor
    Comments (7) | Send Message
     
    This company keeps getting shot (shooting itself?) in the foot.
    7 Apr 2014, 10:13 PM Reply Like
  • bikerron1
    , contributor
    Comments (692) | Send Message
     
    TBG needs to fine a buyer for the company. be lucky to get 8 dollars in a buyout. They pushed all there stockholders that supported them under the bus. Leon Cooperman needs to have a talk with TBG about whats going on in the company.
    (shooting itself?)
    8 Apr 2014, 05:38 AM Reply Like
  • bud4704
    , contributor
    Comments (582) | Send Message
     
    I'll take $8.
    8 Apr 2014, 10:34 AM Reply Like
  • bikerron1
    , contributor
    Comments (692) | Send Message
     
    Me to.
    9 Apr 2014, 05:13 AM Reply Like
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