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PTP Tax Exemption

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PTP TAX EXEMPTION

IRS Section 1446(f) Rule: Exemption

The IRS recently issued regulations on the withholding on transfers of interests in PTPs and on distributions made with respect to PTP interests, effective January 1, 2023. These regulations would require a 10% withholding on gains from the sale of PTP interests. 1446(f) rule is applicable to Publicly Traded Partnerships (PTPs) and may impact international investors in the following exchange-traded products (ETPs) registered under the Securities Act of 1933: CORN, WEAT, SOYB, CANE, TAGS.

ALL FUNDS LISTED ABOVE HAVE MET THE REQUIREMENTS AND ARE EXEMPT FROM IRS Section 1446(f) RULE.
An exception under this rule applies if a PTP is to certify that it is not engaged in a U.S. trade or business.
In order to make this certification, the PTP must state on a qualified notice that it is not engaged in a trade or business in the United States.
Teucrium intends to post a quarterly qualified notice to the website indicating that it has met the requirements for this exception.
This information may be used by foreign partners to indicate that the sale of their partnership interest should not be subject to the 10% withholding.

Click Here to download your Quarterly Notice for IRS Section 1446(f)

Please Contact Us if you have any questions.

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ConvexityShares 1x SPIKES Futures ETF (SPKX) and ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) are a series of ConvexityShares Trust, and Teucrium Trading, LLC is the Fund’s sponsor. Teucrium is responsible for managing daily operations, including investment management, and Fund reporting.

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ConvexityShares 1x SPIKES Futures ETF (SPKX) and ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) are a series of ConvexityShares Trust, and Teucrium Trading, LLC is the Fund’s sponsor. Teucrium is responsible for managing daily operations, including investment management, and Fund reporting.

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Diversification does not ensure a profit or protect against loss.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information. Read the prospectus carefully before investing. An investment in the Fund involves risk, including possible loss of principal. The material available on this site is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America.

Shares of the Funds are not FDIC Insured, may lose value, and have no bank guarantee. All supporting documentation provided upon request.

CORN, CANE, SOYB, WEAT, and TAGS are commodity pools regulated by the Commodity Futures Trading Commission (CFTC). These Funds, which are ETPs, are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. The funds do not track the spot price of corn, sugar, soybeans or wheat.

TILL, CXRN, WXET, and XXRP are new and have a limited operating history. The Funds are “non-diversified” investment companies under the Investment Company Act of 1940, as amended and, therefore, may invest a greater percentage of assets in a particular security than a diversified fund. The Funds are commodity pools regulated by the CFTC.

Futures Risks: Commodities and futures generally are volatile and are not suitable for all investors.

Futures investing is highly speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. Futures may be affected by Backwardation: a market condition in which a futures price is lower in the distant delivery months than in the near delivery months. As a result, the fund may benefit because it would be selling more expensive contracts and buying less expensive ones on an ongoing basis; and Contango: A condition in which distant delivery prices for futures exceeds spot prices, often due to costs of storing and inuring the underlying commodity. Opposite of backwardation. As a result, the Fund’s total return may be lower than might otherwise be the case because it would be selling less expensive contracts and buying more expensive one.

For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Performance data quoted represents past performance; past performance does not guarantee future results. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.

PINE Distributors LLC is the distributor for the Teucrium Funds.

Check the background of our investment professional’s on FINRA’s BrokerCheck.

Teucrium Investment Advisors, LLC is an investment adviser in Burlington, Vermont and is a wholly owned limited liability company of Teucrium Trading, LLC. Teucrium Investment Advisors, LLC is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Teucrium Investment Advisors, LLC only transacts business in states in which it is properly registered or is excluded or exempted from registration.

Please note, the information provided on this website is for informational purposes only and investors should determine for themselves whether a particular service or product is suitable for their investment needs. Please refer to the disclosure and offering documents for further information concerning specific products or services.

© 2025 TEUCRIUM TRADING, LLC. All rights reserved.

Fund Prospectuses

CORN Prospectus

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WEAT Prospectus

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SOYB Prospectus

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CANE Prospectus

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TAGS Prospectus

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TILL Prospectus

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CXRN Prospectus

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WXET Prospectus

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Links to third-party articles and/or websites are for general information purposes only and do not constitute any offer or solicitation to buy or sell any services or products of any kind. The other parties are responsible for the content on their website(s). You are encouraged to read and evaluate the privacy and security policies on the specific site you are entering.

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