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Ellington Financial LLC Message Board

  • tmb.lake tmb.lake Aug 20, 2012 12:56 PM Flag

    Dividend Tax question

    Is EFC a partnership requiring a K-1 for income tax purposes? Thanks

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • no - check with your broker

      Sentiment: Strong Buy

    • Go to this link:

      http://ir.ellingtonfinancial.com/phoenix.zhtml?c=214142&p=irol-newsArticle&ID=1692636&highlight=

      for more info including:

      "(1) For U.S. federal income tax purposes, the first quarter 2012 dividend will be treated as a partnership distribution. Based on information currently available, the Company estimates that, when calculating U.S. federal withholding taxes, the entire amount of this dividend will be treated as portfolio interest income (as described in Section 871(h) of the Internal Revenue Code). As a result, no portion of this dividend should be considered attributable to income that is subject to U.S. federal withholding tax, including U.S. source dividend income or income effectively connected with a U.S. trade or business. Notwithstanding the foregoing, some portion of future dividends may be considered attributable to U.S. source dividend income, interest income that is not "portfolio interest," or income effectively connected with a U.S. trade or business, and therefore may be subject to U.S. federal withholding taxes.

      The Company does not provide advice on tax matters to its shareholders or to broker/nominees who hold the Company's shares on behalf of their customers. The information above is provided for informational purposes only, is subject to change as more definitive information is obtained by the Company, and does not constitute tax advice. Non-U.S. holders of the Company's common shares and broker/nominees who hold shares on behalf of such holders are strongly urged to consult with their own tax advisors with regard to the U.S. federal income tax consequences of the dividends paid by the Company. This information is not intended to, and cannot, be used by any taxpayer to avoid penalties that may be imposed under U.S. federal income tax law."

      Click on K-1 Information link of left to obtain tax form.

      GL

      J

 
EFC
23.21+0.05(+0.22%)Apr 17 4:01 PMEDT

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