Gaming and Leisure Properties Inc. Announces 2022 Distribution Tax Treatment

Rhea-AI Summary

Gaming and Leisure Properties (GLPI) announced an income tax allocation for federal income tax purposes for 2022 distributions amounting to $3.045 per share. The tax return for the year ended December 31, 2022, has not yet been filed, and the tax allocation has been determined using the best available data as of the press release date. Shareholders are advised to consult with their tax advisors to understand the tax implications, as state and local taxation of these distributions may differ from federal regulations.

Positive

• Distribution per share of $3.045 for 2022 demonstrates consistent shareholder returns.
• Clear guidance provided for shareholders to consult tax advisors, ensuring informed decisions.

Negative

• Tax return for 2022 is not yet filed, which may raise concerns about compliance.
• Dependence on preliminary calculations for tax allocation may affect accuracy.

WYOMISSING, Pa., Jan. 20, 2023 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”) announced the income tax allocation for federal income tax purposes of its aggregate distributions in 2022 of $3.045 per share of common stock (CUSIP: 36467J108).

Gaming and Leisure Properties’ tax return for the year ended December 31, 2022, has not been filed. As a result, the income tax allocation for the distributions discussed have been calculated using the best available information as of the date of this press release.

					Box 1a		Box 1b		Box 2a		Box 2b		Box 2f		Box 3		Box 5
Record Date	Payable Date		Total Distribution Per Share		Ordinary Taxable Dividends		Taxable Qualified Dividends (1)		Total Capital Gain Distribution (2)		Unrecaptured 1250 Gain (3)		Section 897 Capital Gain		Nondividend Distributions (4)		Section 199A Dividends (5)
12/27/2021	01/7/2022 (6)		$0.240000		$0.036916		$0.000000		$0.003985		$0.000000		$0.000000		$0.000000		$0.036916
03/11/2022	03/25/2022		$0.690000		$0.622772		$0.000000		$0.067228		$0.000000		$0.000000		$0.000000		$0.622772
06/10/2022	06/24/2022		$0.705000		$0.636310		$0.000000		$0.068690		$0.000000		$0.000000		$0.000000		$0.636310
09/16/2022	09/30/2022		$0.705000		$0.636310		$0.000000		$0.068690		$0.000000		$0.000000		$0.000000		$0.636310
12/09/2022	12/23/2022		$0.705000		$0.636310		$0.000000		$0.068690		$0.000000		$0.000000		$0.000000		$0.636310
	Totals		$3.045000		$2.568618		$0.000000		$0.277283		$0.000000		$0.000000		$0.000000		$2.568618
	(1	)	Amounts in Box 1b are included in Box 1a
	(2	)	Pursuant to Treas. Reg. § 1.1061-6(c), the Company reports that for purposes of section 1061 of the Internal Revenue Code, the One Year Amounts Disclosure is $0.277283 per share and the Three Year Amounts Disclosure is $0.000000 per share with respect to direct and indirect holders of “applicable partnership interests”.
	(3	)	Amounts in Box 2b are included in Box 2a
	(4	)	Amounts in Box 3 are also known as Return of Capital. The Company is not required to provide Form 8937 to its shareholders for the tax year ended December 31, 2022 as it did not make any nondividend distributions during the year.
	(5	)	Amounts in Box 5 are included in Box 1a
	(6	)	A portion of the $0.240000 dividend declared on December 27, 2021 and paid on January 7, 2022 was treated as a 2021 distribution for federal income tax purposes and was included on the 2021 Form 1099-DIV. The amounts reported above in Box 1a through Box 5 will be included on the 2022 Form 1099-DIV.

Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders on how distributions should be reported on their tax returns. Also note that state and local taxation of real estate investment trust distributions varies and may not be the same as the taxation under the federal rules. Shareholders are encouraged to consult with their own tax advisors as to their specific federal, state, and local income tax treatment of the Company’s distributions.

About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

Contact:
Gaming and Leisure Properties, Inc.
Matthew Demchyk, Chief Investment Officer
610/401-2900
investorinquiries@glpropinc.com

Investor Relations
Joseph Jaffoni, Richard Land, James Leahy at JCIR
212/835-8500
glpi@jcir.com

FAQ

What is the total distribution per share announced by GLPI for 2022?

GLPI announced a total distribution of $3.045 per share for 2022.

When was the record date for the distributions made by GLPI?

The record date for the distributions was December 27, 2021.

What are the key components of GLPI's 2022 distribution?

The key components include ordinary taxable dividends and capital gain distributions.

How should GLPI shareholders report their distributions for tax purposes?

Shareholders are encouraged to consult their own tax advisors regarding the reporting of GLPI distributions.

What is the status of GLPI's tax return for 2022?

GLPI's tax return for the year ended December 31, 2022, has not yet been filed.