David Cay Johnston on Kinder Morgan’s Evolving Tax Strategy (KMI)

Not as gimlet-eyed as yesterday's "The "Kinder Morgan Is a House of Cards" Theory and the Pros and Cons of Going Short (KMI)".
In addition, the real concern with KMI is a dividend payout ratio north of 100%.

From TaxAnalysts via TaxProfBlog:

David Cay Johnston (Syracuse), Kinder Morgan’s Evolving Tax Strategy, 144 Tax Notes 881 (Aug. 18, 2014):

Johnston looks at Kinder Morgan’s recent announcement that it would be folding two master limited partnerships into a C corporation holding company.