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Enerplus Corporation Message Board

  • oracle1234 oracle1234 Aug 12, 2010 5:44 PM Flag

    Income Distributions

    Please tell me if the income distributions require a K-1 filing for tax purposes. Thanks

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    • You are wrong.
      It is long term capital gains that will be increased from 15% to 20%.
      Dividends are planned to be taxed at ordinary income rates.

      See the table here...

    • Oops sorry. Big typo there. Meant to say...

      tax rate on dividends is expected to be at ORDINARY INCOME rates next year.

    • " Please tell me if the income distributions require a K-1 filing for tax purposes. Thanks "

      The short answer, no K-1's, just the same-ol 1099's.

      The longer answer:

      For U.S. tax purposes, Enerplus is a corporation, not a partnership or master limited partnership (MLP). Enerplus units are also eligible investments for IRAs, and are not considered Unrelated Business Taxable Income (UBTI).

      For U.S. unitholders, the payments are comprised of dividend and non-taxable return of capital (tax deferred). For most U.S. taxpayers, the dividend portion should be a “Qualified Dividend” eligible for the reduced tax rate. 2010 estimated taxable income (dividend income) for U.S. residents is 90%. Actual taxable amounts may vary depending on actual distributions, which are dependent upon production, commodity prices and funds flow experienced throughout the year.

      Actual taxable amounts will be communicated to unitholders via a Form 1099 DIV prepared by their brokers.

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