NuStar Energy L.P.’s Update on Availability of 2023 Schedule K-1
23 Fevereiro 2024 - 6:29PM
Business Wire
NuStar Energy L.P. (NYSE: NS) today provided an update on the
expected availability of the Partnership’s 2023 tax packages, which
include the Schedule K-1 for common units.
Historically, NuStar’s tax packages have been available by the
beginning of March for the preceding tax year; however, the timing
of the availability of NuStar’s 2023 tax packages is dependent upon
actions of the U.S. Congress and the Biden administration with
regard to the passage, or not, of the recently proposed H.R. 7024
legislation that includes changes in tax law which would be applied
retroactively to the 2023 tax year. As currently written, certain
provisions in H.R. 7024 would lower NuStar's taxable income for
2023 compared to existing tax law.
H.R. 7024 was passed by the House of Representatives on January
31, 2024 and is now among the legislative items that the U.S.
Senate may or may not consider after it reconvenes on Monday,
February 26, 2024 from its current two-week recess. H.R. 7024 is
subject to the legislative process, which may include amendments
introduced by the Senate and thus reconciliation of this bill
between the House of Representatives and the Senate and subject to
the ultimate approval by the President.
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, NuStar currently expects that its 2023 tax packages,
including Schedule K-1 and all information to fiduciaries for
common units owned in tax exempt accounts, will be delayed in
comparison to previous years and will be available on or around
March 30, 2024. Once the applicable tax laws for 2023 are known and
finalized by the passage, or not, of H.R. 7024, NuStar will provide
an update on the availability of the 2023 tax packages. While these
matters are beyond our control, we apologize for any inconvenience
the timing of this pending tax legislation may cause our
partners.
The recently proposed legislation does not impact NuStar's
Preferred units; therefore, the K-1 packages for the Preferred A, B
and C units will be made available on or before March 1, 2024. For
additional information, NuStar Energy L.P. unitholders may call K-1
Tax Package Support toll free at (844) 364-7560 for Series A,
Series B and Series C preferred units and (800) 310-6595 for common
units, weekdays between 8 a.m. and 5 p.m. CT.
NuStar Energy L.P., through its subsidiaries (collectively,
“NuStar” or the “Partnership”), is an independent liquids terminal
and pipeline operator. NuStar currently has approximately 9,500
miles of pipeline and 63 terminal and storage facilities that store
and distribute crude oil, refined products, renewable fuels,
ammonia and specialty liquids. The Partnership’s combined system
has approximately 49 million barrels of storage capacity, and
NuStar has operations in the United States and Mexico. For more
information, visit NuStar Energy L.P.’s website at
www.nustarenergy.com and its Sustainability page at
https://sustainability.nustarenergy.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240223708788/en/
Media: Mary Rose Brown 210-918-2314
maryrose.brown@nustarenergy.com
Investors: Pam Schmidt 210-918-2854
pam.schmidt@nustarenergy.com
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