Skip to main content

Legal Update

The D.C. Circuit Court of Appeals Affirms FERC's Income Tax Allowance Policy for Limited Partnerships

29 May 2007
Mayer Brown Legal Update
29 May 2007 - On May 29, 2007, in ExxonMobil Oil Corp. v. Federal Energy Regulatory Commission, No. 04-1102, the United States Court of Appeals for the District of Columbia Circuit resolved a long-contested issue regarding the Federal Energy Regulatory Commission's (FERC) income tax allowance (ITA) policy for pipelines operating as limited partnerships. In particular, the Court determined that FERC's decision to allow SFPP, L.P. an ITA on all of its partnership interests, to the extent the owners of such interests incurred actual or potential tax liability, was neither arbitrary nor capricious.
The Build a Report feature requires the use of cookies to function properly. Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently. If you do not accept cookies, this function will not work. For more information please see our Privacy Policy

You have no pages selected. Please select pages to email then resubmit.