Dynagas LNG Partners LP Reports New US Taxation Rules on PTPs Do Not Affect Dynagas Unit Holders
Dynagas LNG Partners LP, an owner and operator of liquefied natural gas carriers, announced today that new U.S. Treasury Regulations that come into effect on January 1, 2023, will require brokers to withhold on gross proceeds received by a non-U.S. person from the sale of an interest in a publicly traded partnership which is taxed as a partnership for U.S. federal income tax purposes a (“PTP”). As a result of these new regulations, certain non-U.S. brokers may not permit non-U.S. persons to hold such PTP interests in their brokerage account. The Partnership is a publicly traded partnership that has elected to be taxed as a corporation for U.S. federal income tax purposes. Therefore, interests in the Partnership are not subject to these new regulations.
Source: Dynagas LNG Partners LP