does a master limited partnership mlp offer tax advantages 
yes for limited partners they offer a pass through tax structure distributions aren t taxed when received instead they remain tax deferred until units are sold mlp units up to a certain amount can pass to heirs tax free upon the death of the unitholder also the tax reform act passed in 2017 allows investors to deduct 20 of their distribution immediately from income until the expiration of the provision in 2025 8101211