Tue, May 21, 2013, 12:03 AM EDT - U.S. Markets open in 9 hrs 27 mins
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That is in general. Doesn't TGP report on a 1099 rather than K-1? In which case, I assume there would be no UBTI. Not 100% sure as I am not a unitholder (only short puts)
Nope, TGP is a k-1 issuer. At the time of the IPO, they thought this similarity to traditional midstream MLPs would make them more appealing to the MLP investor base.By the time they IPOed TOO, their thinking switched to attracting a wider investor base with the 1099 filing option. The companies are both structured as MLPs, but TGP is a k-1 issuer.Shipping companies that file 1099:CPLPGMLPNMMTOOare the ones that come to mind, may be forgetting one? There is supposedly a Seadrill MLP spinoff in the works, but I haven't really kept up with that.