Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date: April 22, 2010
Event: Declaration of the Fiscal 2010 Second 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 Risks
Distribution Details: The Partnership declared a distribution for the Fiscal 2010 Second Quarter.
Tax Withholding: In accordance with Treasury Regulation 1.1446-4(d), the distribution is classified as income effectively connected with a U.S. business (ECI). Consequently, a 35% withholding rate applies to foreign investors (nonresident aliens, foreign corporations, foreign trusts, and foreign estates) under Section 1446 of the Internal Revenue Code.
Exhibits: A press release detailing the distribution is included as Exhibit 99.1.
Investor Verification Checklist
- Verify the specific per-unit distribution amount in the attached Press Release (Exhibit 99.1), as it is not stated in the 8-K text.
- Confirm the record date and payment date for the Fiscal 2010 Second Quarter distribution.
- Review the tax implications for foreign investors regarding the 35% withholding on ECI.