Sunoco LP is a master limited partnership (MLP) that is a key player in the U.S. wholesale motor fuels distribution, refined products transportation, and storage and terminalling.
A master limited partnership (MLP) is an entity that is structured as a limited partnership instead of a corporation. Limited partner “units” are traded on public exchanges just like shares of stock in a corporation. Unlike a corporation, MLPs do not pay corporate-level taxes. Instead, taxes are paid on a partially deferred basis by limited partner unitholders, making MLPs “pass-through” entities; that is, investors avoid the double taxation on “distributions” from an MLP that they pay on “dividends” paid by corporations. As a result, MLPs provide a tax-efficient means to invest. The tax-deferred income is not taxable until the unitholder sells the security. MLPs consist of a general partner and limited partners. The general partner manages the daily operations, typically holds an equity ownership stake in the Partnership and is often entitled to receive incentive distribution rights payments. The limited partners (or common unitholders) provide capital, typically receive quarterly cash distributions and have no role in the Partnership’s operations and management or voting rights.
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Sunoco LP’s Corporate Family Ratings are:
i. S&P: BB-
ii. Moody’s: Ba3
iii. Fitch: BB
Grant Thornton LLP
As a master limited partnership (MLP) managed by a general partner, Sunoco LP is not required to hold an annual meeting of unitholders.
We are always looking for great talent across all our businesses. Please visit our Careers website to learn about employment opportunities with Sunoco LP.
Our common units trade on the New York Stock Exchange under the ticker symbol SUN. Visit our Unit Performance page to see how Sunoco LP investments are performing at-a-glance.
Units of Sunoco LP stock can be transferred online directly through our stock transfer agent, Computershare, or by requesting an enrollment package by calling 1-800-962-4284 or 1-781- 575-3100. You may transfer shares directly from the Computershare website, from a broker or from another stockholder.
As a master limited partnership (MLP), Sunoco LP pays a quarterly “distribution” rather than a dividend. Click here for a history of our distribution payments. The Board of Directors reviews and approves Sunoco LP’s distribution level on a quarterly basis.
Not at this time. Please contact your broker to buy or sell Sunoco LP units.
Computershare is the transfer agent and registrar for Sunoco LP units. Please contact Computershare to transfer your units or update your address, or if you have other questions about your account.
Computershare Trust Company NA
250 Royall Street
Canton, MA 02021
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A K-1 is a tax document related to your units in Sunoco LP that you will need to prepare your annual income tax return. It’s like a 1099 that you would receive from a corporation reporting dividends paid, but it is more detailed.
We mail K-1s in mid-March each year, but you may also retrieve the data online. Visit our Tax Information page for more details.
We recommend that you consult with your tax advisor, as each investors’ tax situation is unique. For the majority of investors, placing a tax-shielded investment like a master limited partnership (MLP) unit into a tax-shielded IRA is typically not the most tax-efficient way to invest. That’s because MLPs generate what is known as “unrelated business taxable income” (UBTI), and certain tax-exempt investment vehicles such as 401(k)s or IRAs would be subject to tax on MLP holdings.
Master limited partnerships (MLPs) can be a tax-efficient means of transferring assets of an estate. When an individual inherits units in an MLP, the cost basis is reset to the price of the unit on the date of transfer. Thus, the tax liability created by the reduction of the original unitholder’s cost basis is eliminated.
That said, we recommend you consult directly with your own legal and tax advisors, as every situation is unique.