HOW DO MASTER LIMITED PARTNERSHIP WORK

[MLP Mutual Fund]

A master limited partnership is a business partnership that is owned
and managed like a corporation, but often taxed like a partnership. It
is mainly used for real estate, oil and gas ventures or natural
resources and is also often referred to as public traded partnership.
Public traded partnership or multiple limited partnerships is the
principal or sole owner of multiple assets or partnerships which
themselves may be structured as tax shelters.

A partnership can only be classified as a multiple limited partnership
when the partnership derives most of its cash flow (around 90%)
through activities or interest and dividend payments relating to real
estates, natural resources and public traded company.


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