Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 172

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 3
Chunk 172
---
3 and 2022 taxable income to its stockholders.  Accordingly, no significant provisions for income taxes were necessary.  The Company’s income tax treatment of share distributions is based on its taxable income, calculated in accordance with the Internal Revenue Code, which differs from U.S. generally accepted accounting principles (“GAAP”).  The following table summarizes the federal income tax treatment for all distributions by the Company for the years ended December 31, 2024, 2023 and 2022.Federal Income Tax Treatment of Share Distributions Years Ended December 31, 202420232022Common Share Distributions: (Per share)Ordinary dividends$5.21028 5.02083 4.53746 Nondividend distributions— — — Unrecaptured Section 1250 capital gain— — — Other capital gain— — — Total Common Share Distributions (1)                                      $5.21028 5.02083 4.53746 (1)   Pursuant to Internal Revenue Code of 1986, as amended, Section 857(b)(9), cash distributions made on January 15, 2025 with a record date of December 31, 2024 were treated as received by shareholders on December 31, 2024 to the extent of 2024 undistributed earnings and profits.  Cash distributions made on January 12, 2024 with a record date of December 29, 2023 were treated as received by shareholders on December 31, 2023 to the extent of 2023 undistributed earnings and profits.  Cash distributions made on January 13, 2023 with a record date of December 30, 2022 were treated as received by shareholders on December 31, 2022 to the extent of 2022 undistributed earnings and profits.EastGroup applies the principles of Financial Accounting Standards Board “FASB” Accounting Standards Codification “ASC” 740, Income Taxes, when evaluating and accounting for uncertainty in income taxes.  With few exceptions, the Company’s 

49

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

2020 and earlier tax years are closed for examination by U.S. federal, state and local tax authorities.  In accordance with the provisions of ASC 740, the Company had no significant uncertain tax positions