Master Limited Partnerships (MLPs) are an investment class that combines the tax advantages of a private partnership — in which profits are only taxed when investors receive distributions — with the transparency and liquidity of a publicly traded company.
MLPs operate in a range of different industries, all listed in the directory below and organized to help meet the needs of investors.
Master limited partnerships (MLPs) have unique risks, and may create complex tax liabilities, particularly for retirement accounts. Due to their unique tax structure, MLPs may generate unrelated business taxable income (UBTI) that can create tax liabilities for retirement accounts and tax-advantaged investors. Please consult a tax advisor if you plan to purchase an MLP in a retirement account.