Magellan's qualified notice pursuant to U.S. Treasury Regulation § 1.1446-4 for distributions paid in 2023 is available below.
Payment Date |
Quarterly Payment |
Qualified Notice |
09/25/23 |
$0.2474 |
PDF |
08/14/23 |
$1.0475 |
PDF |
05/15/23 |
$1.0475 |
PDF |
02/14/23 |
$1.0475 |
PDF |
Tax Withholding Related to Merger Transaction
The receipt of shares of ONEOK, Inc. (“ONEOK”) common stock and cash in exchange for Magellan Midstream Partners, L.P. (“Magellan”) units pursuant to the merger will be treated as a taxable sale of Magellan units for U.S. federal income tax purposes. For a foreign unitholder of Magellan, the broker effecting the transfer on behalf of the foreign unitholder is responsible for withholding 10% of the amount realized on the sale under Treasury Regulation Section 1.1446-4(f). The amount realized on the sale includes the shares of ONEOK common stock (valued at the closing price of ONEOK on the closing date of the transaction, which was $66.54) and aggregate cash consideration received in the merger.