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Peter
You recommended PAGP and wrote: "…Plains GP Holdings (NYSE: PAGP), the investment vehicle tracking the general partner interest just sold, will turn after a reverse split into a PAA tracker, with each of its units representing one unit of PAA but paying a return of capital reported on form 1099 rather than K-1 as for PAA’s limited partners…"
As of when will that change come into effect? Does it mean owners of PAGP won´t own units of a Master Limited Partnership but rather shares of a corporation and therefore won´t be subject to the 39.6% withholding tax (in case they are neither US citizens nor US-residents)?
Stock Talk
Peter
You recommended PAGP and wrote: "…Plains GP Holdings (NYSE: PAGP), the investment vehicle tracking the general partner interest just sold, will turn after a reverse split into a PAA tracker, with each of its units representing one unit of PAA but paying a return of capital reported on form 1099 rather than K-1 as for PAA’s limited partners…"
As of when will that change come into effect? Does it mean owners of PAGP won´t own units of a Master Limited Partnership but rather shares of a corporation and therefore won´t be subject to the 39.6% withholding tax (in case they are neither US citizens nor US-residents)?
Robert Rapier
Hi Peter,
PAGP was recommended as a Sell on May 12th: https://www.investingdaily.com/energy-strategist/alerts/31222/mlp-results-the-good-the-meh-and-the-ugly-epd-ete-paa-2
PAGP is now issuing 1099s, so I believe you are correct about the withholding.
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