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Author: TMFKMHinson Big red star, 1000 posts Old School Fool Coverage Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 20079  
Subject: MLPs - help? Date: 3/25/2013 4:04 PM
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KitKat's thread dredges up a category that I've had trouble with in the past. There's been a load of MLPs, mostly pipelines and energy related, but a few others over the years, that I've been interested in... but the tax issue scares me off every time.

Specifically... the potential for owing (and far more importantly, having to file a return for) state income tax in every state where an MLP has assets. How do I look at an MLP and a.) understand how much income will potentially be applicable to each state and b.) anybody aware of a one-stop-shop that will help me understand on a state-by-state basis what would trigger the requirement to file a return, or do I have to go plow through state.gov websites one at a time?

I've talked to a few people who seem to just dismiss the complication entirely and say they don't bother considering it, but it would seem to me that states with budgetary problems could easily go troll the ownership of MLPs doing business in their states and audit them all in one swoop as an easy source of incremental revenue, so it's not something I want to ignore.

Anybody have any suggestions?

Thanks.
kevin
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