To: Rich Kah Jeanne Brenna From: Harry Bell Sent Tue 3/11/2014 2:21:30 AM Subject Fwd: King Street Capital L.P. - VA State Withholding - Action Required VA State Withholding Letter 2013.pdf Untitled attachment 00096.htm Virginia Withholding Oot-out Election.odf Untitled attachment 00099.htm I think you should ask A Dlugash on this one also Harry Begin forwarded message: From: K1 Date: Marc EDT To: Undisclosed recipients:: Subject: King Street Capital L.P. - VA State Withholding - Action Required To the King Street Capital. L.P. Limited Partners: In 2013, a King Street Capital, L.P. "side pocket" investment generated Virginia slate source income. As a result, King Street Capital. L.P. is required to withhold Virginia income tax at the rate of 5% on each non-resident partner's share of Virginia source income unless an eligible partner elects to Opt-out of Virginia withholding. In addition, non-resident partners arc required to file a Virginia income tax return reporting the allocated income and withholding. Eligible partners for the Opt-out election include: 1) A pass-through entity. 2) A Real Estate Investment Trust (REIT), except Captive REITs. 3) An Individual who is exempt from paying Federal income taxes or Virginia income taxes. 4) A Corporation or other entity that is exempt from Virginia income tax. If you meet the above requirements and choose to Opt-out of withholding, please complete and execute the attached document. Virginia Withholding Opt-Out Election. Note the information provided on the Virginia Withholding Opt-Out Election will be included with the Form 502, Virginia Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax, filed by King Street Capital. L.P. Please note that King Street Capital, L.P. is not eligible to file a Virginia composite return on your behalf. The Opt-out election must be e-mailed by March 28, 2014. Failure to respond by March 28th will result in tax being withhe