TAX INFORMATION
Due to the ongoing consideration of H.R. 7024 by Congress and thus the
uncertainty of the ultimate tax laws applicable to tax year 2023, Global
currently expects that its 2023 tax packages, including Schedules K-1, will be
delayed in comparison to previous years and will be available by March 30,
2024. The recently proposed legislation does not impact Global's Preferred
units; therefore, the K-1 packages for the Series A and Series B preferred
units will be made available on or before March 15, 2024.
For more information,
please see our press release issued on March 8, 2024.
Click here to access historical K-1 tax packages:
QUALIFIED NOTICE
We are required to provide qualified notice to brokers and nominees that hold
Global Partners LP (“Global Partners”) units on behalf of non-U.S. investors
under Treasury Regulation Sections 1.1446-4(b) and (d) and
1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent
(100%) of Global Partners’ distributions to non-U.S. investors as being
attributable to income that is effectively connected with a United States
trade or business. In addition, brokers and nominees should treat one hundred
percent (100%) of the distribution as being in excess of cumulative net income
for purposes of determining the amount to withhold. Accordingly, Global
Partners’ distributions to non-U.S. investors are subject to federal income
tax withholding at a rate equal to the highest applicable effective tax rate
plus ten percent (10%). Nominees, and not Global Partners, are treated as the
withholding agents responsible for withholding on the distributions received
by them on behalf of non-U.S. investors.
Separately, for the purposes of withholding on sales transactions by non-U.S.
investors under Treasury Regulation Section 1.1446(f)-4(a)(2), brokers should
treat one hundred percent (100%) of the proceeds attributable to the sale of
Partnership units as being attributable to a U.S. trade or business.
For specific Qualified Notices,
click here.