Google Answers: Oil and Gas Tax Question

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Q: Oil and Gas Tax Question ( No Answer, 0 Comments )

Question

Subject: Oil and Gas Tax Question
Category: Business and Money > Accounting
Asked by: triplerr-ga
List Price: $10.00

Posted: 10 Mar 2006 17:15 PST
Expires: 09 Apr 2006 18:15 PDT
Question ID: 705937

Here is our corporate structure:
Big Dog LLC ? Holding Company with many limited partners
A LLC ? Invests in Oil and Gas project
B LLC ? Invests in Oil and Gas project

Question:  Can the limited partners of Big Dog receive the tax
deductions granted by the IRS for oil and gas investors if Big Dog is
the sole owner of A and B?

Please cite the irs tax code number/section to support your conclusion.

Answer

There is no answer at this time.

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