Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date: January 21, 2010
Event: Declaration of the Fiscal 2010 First Quarter Distribution.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on the declaration of a distribution and associated tax withholding requirements.
Material Changes
No material changes to financial performance or operations are detailed in this filing. The document serves as a regulatory notice regarding the distribution declaration and tax compliance.
Guidance, Outlook, and Tax Matters
- Distribution Declaration: The Partnership announced its Fiscal 2010 First Quarter Distribution via a press release (Exhibit 99.1).
- Tax Withholding: In accordance with Treasury Regulation 1.1446-4(d), a qualified notice was issued to the New York Stock Exchange.
- Foreign Investor Impact: The distribution is classified as income effectively connected with a U.S. business (ECI). Nominees are required to withhold 35% of the distribution for foreign investors (nonresident aliens, foreign corporations, foreign trusts, and foreign estates) under Section 1446 of the Internal Revenue Code.
Investor Verification Checklist
- Verify the specific distribution amount per unit in the attached Press Release (Exhibit 99.1), as it is not stated in the 8-K body text.
- Confirm the record date and payment date for the Fiscal 2010 First Quarter Distribution.
- Review the tax implications for foreign investors regarding the 35% withholding requirement on ECI.