Legal Definitions - PTP

Definition: PTP stands for publicly traded partnership, which is a type of partnership that has its interests traded publicly on a securities exchange or over-the-counter. For income-tax purposes, these partnerships are treated as corporations.

Example: An example of a publicly traded partnership is Energy Transfer LP, which is traded on the New YorkStock Exchange under the ticker symbol ET. This partnership operates in the energy industry and has its interests traded publicly.

Explanation: The example illustrates the definition of a publicly traded partnership by showing a real-life example of a partnership whose interests are traded publicly. Energy Transfer LP is a publicly traded partnership that operates in the energy industry and has its interests traded on the New York Stock Exchange. As a publicly traded partnership, it is treated as a corporation for income-tax purposes.