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Kimbell Royalty Partners changes tax status to taxable entity.

Kimbell Royalty Partners announced that its federal income tax status change from that of a pass-through partnership to that of a taxable entity via a "check-the-box" election became effective. Holders of Kimbell's common units will receive a final Schedule K-1 for the period from January 1 through the day prior to the effective date of the tax election. Holders will receive a form 1099-DIV. After the effectiveness of the tax status election and the completion of related transactions, Kimbell's minerals and royalty business will continue to be conducted through Kimbell Royalty Operating, LLC, its wholly owned subsidiary, which will be taxed as a partnership for federal and state income tax purposes.

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Publication:The Fly
Date:Sep 24, 2018
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