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Instead of a Form 1099, MLP investors receive a Schedule K-1 tax form. As a consequence of their pass-through status, holding MLPs in tax-exempt accounts may generate Unrelated Business Income Tax (UBIT). [2] To encourage tax-exempt investors, some MLPs set up C corporation holding companies of limited partner which can issue common equity. [3]
Unrelated Business Income Tax (UBIT) in the U.S. Internal Revenue Code is the tax on unrelated business income, which comes from an activity engaged in by a tax-exempt 26 U.S.C. 501 organization that is not related to the tax-exempt purpose of that organization.
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Seal of the Supreme Court of Ohio. DeRolph v. State is a landmark case in Ohio constitutional law in which the Supreme Court of Ohio ruled that the state's method for funding public education was unconstitutional. [1]
The outgoing head of Ohio's troubled teachers retirement system said that she is leaving the fund in strong fiscal condition, despite the turmoil at the top that her successor will inherit.
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