Investopedia explains 'Publicly Traded Partnership - PTP'
A publicly traded partnership combines certain tax benefits of a limited partnership, with the liquidity of a publicly traded security. Publicly traded partnerships must engage in certain businesses, due to limitations in the U.S. Code, including businesses related to the use of natural resources, such as petroleum and natural gas extraction and transportation.
In order to qualify for publicly traded partnership status, the partnership must generate a minimum of 90% of its income from "qualifying" sources, as determined by the U.S. Internal Revenue Service (IRS). As partnerships, they avoid the statutory corporate income tax at state and Federal levels.
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