What is the difference between units of a partnership and shares of a stock?
A partner in a publicly traded partnership owns units of the partnership rather than shares of stock and receives cash distributions rather than dividends. The cash distributions are not taxable as long as the partner’s tax basis in the partnership exceeds zero. Q: Is Constellation Energy Partner LLC registered as a tax shelter? The Partnership is not registered as a tax shelter. Q: What states do I have to file tax returns in as a result of owning Constellation Energy Partners LLC common units? In addition to the filling requirements of the state in which you live, you may be required to file a non-resident tax return in the states in which the Partnership operates. Constellation Energy Partners is registered to do business in six states: Alabama, Kansas, Maryland, Oklahoma, Texas and Virginia. Constellation Energy Partners also has informational filing requirements in Georgia, Indiana, Maine, Missouri, New Jersey, New York, Oregon, Pennsylvania, and West Virginia because the Partners
