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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Fugitive Pauper who wrote (96800)	2/15/2008 2:41:11 AM
From: seriousinvestor	Respond to of 206323

I apologize for the error on BBEP. I took my info from a brokerage firm report and never checked. With respect to the tax issues raise in a prior post. I have not owned any of these E&P MLPs until this year but I own about a half dozen other ones for several years. The MLPs themselves produce the K-1(in most case you can download it from their web site). It is that document that is used for your tax return so the issue you raised is not an issue. If they do business in a state that would require a tax return you will have to file one. Some of the web sites note this issue (for example-Texas has no state income tax so if they only have operations there then no problem). I have had to fie and pay modest amounts in other states like Calif. My accountant completed all the forms and I don't think I was charge a meaningful increase because of this issue. With respect to future changes is tax law I have no idea. I'm not a tax lawyer or accountant but I have not heard any suggestion of a change. Frankly the E&Ps are very small but there are some very large MLPs and I truly doubt that anyone would want to raise the cost of capital for our energy infrastructure(pipelines etc). Anything is possible but this is not a risk that concerns me. I personally think it very very unlikely.