MLPs are very tough to explain so this is more for an advanced and experienced people in the industry.
You might not understand it, but I’ve provided resources to help you learn. Good Luck
Master Limited Partnerships – A master limited partnership (MLP) is a type of business venture that exists in the form of a publicly traded limited partnership. As such, it combines the tax benefits of a partnership – profits are taxed only when investors actually receive distributions – with the liquidity of a public company.
Investopedia provides a great video if you’re a visual learner. Click Here