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Income Taxes
6 Months Ended
Jun. 30, 2014
Income Taxes [Abstract]  
Income Taxes

NOTE 17 – INCOME TAXES

 

The Company is a limited partnership for federal and state income tax purposes, with the exception of the State of Texas, in which income tax liabilities and/or benefits of the Company are passed through to its unitholders.  In addition, the Company’s controlling interest in ETSWDC is subject to federal income tax. The Company recognized income tax expense for the three months ended June 30, 2014 and 2013 of less than $0.3 million and $0.1 million. The Company recognized income tax expense for the six months ended June 30, 2014 and 2013 of less than $0.4 million and $0.1 million.

 

The IRS is currently auditing the Company’s partnership federal income tax return for the year ended December 31, 2011. We are fully cooperating with the IRS in the audit process. Although no assurance can be given, we do not anticipate any change in prior period taxable income.