10% on gross proceeds is just bonkers, who is making these legislations.. Worse yet is that some brokerages (i.e. Saxo Bank) don't even allow you to hold any PTPs after 01.01.2023 if you are not a US citizen, as they apparently don't want to bother with the "complicated tax implications". Luckily, IB still allows it, so I will continue to hold SMLP. Even after accounting for this new tax, I think it's just too mispriced. Had to drop USDP unfortunately, recent developments have not given me confidence in contract execution.
The withholding only applys to Non-Us holders but, non-us holders selling these names prior to the imposition of the new rules will of course affect the price.
Thanks. This is good information
10% on gross proceeds is just bonkers, who is making these legislations.. Worse yet is that some brokerages (i.e. Saxo Bank) don't even allow you to hold any PTPs after 01.01.2023 if you are not a US citizen, as they apparently don't want to bother with the "complicated tax implications". Luckily, IB still allows it, so I will continue to hold SMLP. Even after accounting for this new tax, I think it's just too mispriced. Had to drop USDP unfortunately, recent developments have not given me confidence in contract execution.
Thank you for sharing that information.
Thanks. Saw this. Pretty gutted as MLP buyouts have been a gift recently. Gonna lose any bump coming on $SIRE.
The withholding only applys to Non-Us holders but, non-us holders selling these names prior to the imposition of the new rules will of course affect the price.
Might be an opportunity after YE?
This is sadly effecting me with UAN. 10 % is bonkers, what a rip off.