Company: SPH
Filing Date: 2025-02-12
Form Type: S-3
Source: 0001193125-25-024546
Chunk: 39

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-12
Form: S-3
Chunk 39
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 than in separate proceedings with the partners. The Code
requires that one partner be designated as the “Partnership Representative” for these purposes. Our partnership agreement names our general partner as our Partnership Representative.

If the IRS makes audit adjustments to our income tax returns, it (and some states) may assess and collect any taxes (including any applicable
penalties and interest) resulting from such audit adjustment directly from us. Generally, we expect to elect to have our general partner and unitholders take such audit adjustment into account in accordance with their interests in us during the tax
year under audit, but there can be no assurance that we will be able to do so (or will choose to do so) under all circumstances, or that we will be able to (or choose to) effect corresponding shifts in state income or similar tax liability resulting
from the IRS adjustment in states in which we do business in the year under audit or in the adjustment year. If we are unable to have our unitholders take

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such audit adjustment into account in accordance with their interests in us during the tax year under audit, our current unitholders may bear some or all of the tax liability resulting from such
audit adjustment, even if such unitholders did not own common units in us during the tax year under audit. If, as a result of any such audit adjustment, we are required to make payments of taxes, penalties, and interest, our cash available to
service debt or pay distributions to our unitholders could be substantially reduced.

For applicable taxable years, the Partnership
Representative has made and will make some elections on our behalf and on behalf of unitholders. In addition, the Partnership Representative can extend the statute of limitations for assessment of tax deficiencies against unitholders for items in
our returns.

A unitholder must file a statement with the IRS identifying the treatment of any item on the unitholder’s U.S. federal
income tax return that is not consistent with the treatment of the item on our return. Intentional or negligent disregard of this consistency requirement may subject a unitholder to substantial penalties.

Additional Withholding Requirements

Withholding
taxes may apply to certain types of payments made to “foreign financial institutions” (as specially defined in the Code) and certain other non-U.S. entities. Specifically, a 30% withholding tax may
be imposed on interest, dividends and other fixed or determinable annual or periodical gains, profits and income from sources within the United States (“FD