The impact of tax reform legislation on publicly traded partnerships

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January 2018

Overview

The 2017 tax reform reconciliation act (the Act), signed into law December 22 by President Trump, will significantly affect many US taxpayers including those in the energy sector and businesses operating in partnership solution.

Publicly Traded Partnerships (PTPs) and individuals who invest in PTPs need to be aware of a broad spectrum of changes that could have an impact on current business operations and income allocations.  Both PTPs and their investors need to analyze the new provisions and how they could alter the partnership’s taxable income calculations as well as the investors’ specific tax position.  Below is a brief summary of select provisions in the Act that are most relevant to PTPs and their investors, including provisions that are specific to partnerships as well as other provisions with broader applicability.

The takeaway

The reform of US tax law is now here. It is time to evaluate current investments in light of the new law and make adjustments for future transactions.

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Robert Baldwin

Energy, Utilities & Mining Co-leader, PwC US

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