Taxes & Distributions
Corporate Tax Status
As of January 1, 2019, JMP Group LLC is treated as a C corporation, rather than as a partnership, for tax purposes. From January 1, 2015, through December 31, 2018, the company was taxed as a partnership and issued Schedule K-1 tax forms to shareholders annually. During 2019, monthly cash distributions that were previously declared in advance of each period, while the company was taxed as a partnership, were replaced with quarterly cash distributions declared subsequent to each period and treated as dividend payments. Such payments are reflected on the Form 1099 received by each shareholder for 2019—generally a composite Form 1099 issued by a shareholder’s brokerage institution.
For more information about the company’s change of tax status, see the press releases issued on January 17 and April 19, 2019. More recently, the company announced that it has suspended its quarterly dividend. For more information about that announcement, see the press release issued on February 19, 2020.
Frequently Asked Questions
Click below for answers to frequently asked questions about your Schedule K-1 for 2018 or before and the taxes related to your investment in JMP Group while the company was treated as a partnership.