Company: SPH
Filing Date: 2025-02-21
Form Type: 424B5
Source: 0001193125-25-030891
Chunk: 28

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-21
Form: 424B5
Chunk 28
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 reduction. A substantial basis
reduction exists if, on a liquidating distribution of property to a unitholder, the sum of (i) the amount of loss recognized by the unitholder on the distribution, plus (ii) the excess of the unitholder’s basis in the distributed
property over our basis in that property immediately before the distribution, exceeds $250,000.

18

Tax Treatment of Operations

Accounting Method and Taxable Year

We use
the year ending December 31 as our taxable year and the accrual method of accounting for U.S. federal income tax purposes. Each unitholder will be required to include in income his share of our income, gain, loss, deduction and credit for our
taxable year ending within or with his taxable year. In addition, a unitholder who has a taxable year ending on a date other than December 31 and who disposes of all of the unitholder’s common units following the close of our taxable year
but before the close of the unitholder’s taxable year must include the unitholder’s share of our income, gain, loss, deduction and credit in income for the unitholder’s taxable year, with the result that he will be required to include
in income for his taxable year his share of more than twelve months of our income, gain, loss, deduction and credit. Please read “— Disposition of Common Units — Allocations Between Transferors and Transferees.”

Tax Basis, Depreciation and Amortization

The tax basis of our assets will be used for purposes of computing depreciation and cost recovery deductions and, ultimately, gain or loss on
the disposition of these assets. The federal income tax burden associated with the difference between the fair market value of our assets and their tax basis immediately prior to an offering will be borne by our unitholders holding interests in us
prior to any such offering. Please read “— Tax Consequences of Unit Ownership — Allocation of Income, Gain, Loss, Deduction and Credit.”

To the extent allowable, we may elect to use the depreciation and cost recovery methods, including bonus depreciation to the extent available,
that will result in the largest deductions being taken in the early years after assets subject to those allowances are placed in service. Please read “— Uniformity of Common Units.” Property we subsequently acquire or construct
may be depreciated using accelerated methods permitted by the Code.

If we dispose of depreciable property by sale, foreclosure or
otherwise, all or