The Partnership has elected to be treated as a C-Corporation for tax purposes. Accordingly, the Partnership's investors will receive IRS Form 1099s rather than Schedule K-1s. If you are a U.S. unitholder and you have not received a Form 1099, you should contact your broker or your tax advisor. All unitholders are encouraged to consult their own tax advisors to determine the appropriate tax treatment of the distributions.
Distributions we pay to U.S. unitholders will be treated as a dividend for U.S. federal income tax purposes to the extent the distributions come from earnings and profits and as a nondividend distribution or a return of capital to the extent the distributions exceed earnings and profits. For more detailed tax commentary, please refer to our most recent annual report.