Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: January 20, 2011
Event: Declaration of the Fiscal 2011 First Quarter Distribution.
Key Financial Metrics
This filing announces a distribution declaration but does not contain specific financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. The filing text does not provide a clear value for these items.
Material Changes
No material changes to financial performance or operations are detailed in this specific filing. The document serves solely to disclose the declaration of the quarterly distribution and associated tax withholding requirements.
Guidance, Outlook, and Tax Implications
- Distribution Declaration: The Partnership issued a press release announcing the Fiscal 2011 First Quarter Distribution.
- Tax Withholding: In accordance with Treasury Regulation 1.1446-4(d), a qualified notice was issued to the New York Stock Exchange.
- Foreign Investors: 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 per-unit distribution amount in the attached Press Release (Exhibit 99.1), as the 8-K text does not state the figure.
- Confirm the record date and payment date for the Fiscal 2011 First Quarter Distribution.
- Review the tax implications for non-U.S. investors regarding the 35% withholding requirement on ECI.