Martin Midstream Partners L.P. Update on Availability of 2023 K-1
26 Fevereiro 2024 - 4:58PM
Business Wire
Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP”) today
provided an update on the expected availability of the
partnership’s 2023 Investor Tax Packages including Schedule K-1 for
its common unitholders.
Historically, MMLP’s Investor Tax Packages have been available
by the end of February for the preceding tax year; however, the
timing of the availability of MMLP’s 2023 Investor Tax Packages is
dependent upon actions of the U.S. Congress and the Biden
administration with regard to the passage, or not, of the Tax
Relief for American Families and Workers Act of 2024 (referred to
as “H.R. 7024”). 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 Monday, February 26, 2024 from its two-week
recess. This legislation includes changes in tax law which would be
applied retroactively to the 2023 tax year. As passed by the House
of Representatives, certain provisions of H.R. 7024 would lower
MMLP’s taxable income for 2023 compared to existing law.
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, MMLP currently expects that its 2023 Investor 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 should be available by late March.
Once the applicable tax laws for 2023 are known and finalized by
the passage, or not, of H.R. 7024, MMLP will provide an update on
the availability of the 2023 Investor 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.
Martin Midstream Partners LP, headquartered in Kilgore, Texas,
is a publicly traded limited partnership with a diverse set of
operations focused primarily in the Gulf Coast region of the United
States. MMLP’s primary business lines include: (1) terminalling,
processing, and storage services for petroleum products and
by-products; (2) land and marine transportation services for
petroleum products and by-products, chemicals, and specialty
products; (3) sulfur and sulfur-based products processing,
manufacturing, marketing and distribution; and (4) marketing,
distribution, and transportation services for natural gas liquids
and blending and packaging services for specialty lubricants and
grease. To learn more, visit www.MMLP.com. Follow Martin Midstream
Partners L.P. on LinkedIn, Facebook, and X (formerly known as
Twitter).
Forward-Looking Statements
This press release includes “forward-looking statements as
defined by the Securities and Exchange Commission (the “SEC”).
These forward-looking statements and all references to financial
estimates rely on a number of assumptions concerning future events
and are subject to a number of uncertainties, including (i) the
effects of the continued volatility of commodity prices and the
related macroeconomic and political environment and (ii) other
factors, many of which are outside MMLP’s control, which could
cause actual results to differ materially from such statements.
While MMLP believes that the assumptions concerning future events
are reasonable, it cautions that there are inherent difficulties in
anticipating or predicting certain important factors. A discussion
of these factors, including risks and uncertainties, is set forth
in the Partnership’s annual and quarterly reports filed from time
to time with the SEC. MMLP disclaims any intention or obligation to
revise any forward-looking statements, including financial
estimates, whether as a result of new information, future events,
or otherwise except where required to do so by law.
MMLP-F
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version on businesswire.com: https://www.businesswire.com/news/home/20240226721512/en/
Sharon Taylor Chief Financial Officer (877) 256-6644
investor.relations@mmlp.com
Martin Midstream Partners (NASDAQ:MMLP)
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