Priv. Ltr. Rul. 201227002 (Mar. 1, 2012)

(income derived by publicly traded partnership from oil and gas "fracking" process is "qualifying income" under I.R.C. Sec. 7704(d)(1)(E) and, as a result, recipient of income not treated as corporation under I.R.C. Sec. 7704(a); publicly traded partnership not treated as corporation if at least 90% of gross income for tax year is certain types of passive income and income generated from fracking process is qualifying passive income).