Mon, Sep 1, 2014, 6:43 PM EDT - U.S. Markets closed for Labor Day

Recent

% | $
Quotes you view appear here for quick access.

Magellan Midstream Partners LP Message Board

  • marjun2129 marjun2129 Jun 9, 2009 7:49 PM Flag

    Perhaps i dont understand

    I am looking at M.L.P,s but they all seem to say you may have to pay taxes in every state the company is functioning in I was planning to buy about 1,000 shares,it seems the distribution would be greatly reduced.Am igetting the wrong signal Will

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • From responses to a similar question on NS msg board -

      Unless you have a lot of units (substantially more than 1,000), you probably don't have enough income to need to file in the various states. Scan the K-1 state income list for the highest income states and then go to those state websites and check their tax return instructions for their filing requirements.

      Go to the EPD yahoo msg board and read posts by factoids. he is a wealth of knowledge. or go to investorvillage.com, go to EPD and look for factoid's posts there, too.

      It's all there, you just have to be proactive.

      A couple of states are like West Virginia where they assess a " withholding tax" on the MLP knowing that out of state residents will not file a return for such small amounts and the tax far exceeds what the true tax liability would be if you filed a return..... i.e. most would be zero but the cost to file the return exceeds the W VA withholding tax.

 
MMP
83.93+0.48(+0.58%)Aug 29 4:03 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Criteo SA
NasdaqGSFri, Aug 29, 2014 4:00 PM EDT
Yahoo! Inc.
NasdaqGSFri, Aug 29, 2014 4:00 PM EDT