Company: GGT-PG
Filing Date: 2025-04-17
Form Type: 424B2
Source: 0001999371-25-004396
Chunk: 61

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-04-17
Form: 424B2
Chunk 61
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 of certain complex financial transactions and (vii) produce income that will not qualify as good income
for purposes of the 90% annual gross income requirement described above. These U.S. federal income tax provisions could therefore
affect the amount, timing and character of distributions to stockholders.

If for any taxable
year the Fund were to fail to qualify as a RIC, all of its taxable income (including its net capital gain) would be subject to
tax at regular corporate rates without any deduction for distributions to stockholders.

Taxation of Stockholders

The Fund expects to
take the position that under present law any preferred stock that it issues will constitute equity rather than debt of the Fund
for U.S. federal income tax purposes. It is possible, however, that the IRS could take a contrary position asserting, for example,
that such preferred stock constitutes debt of the Fund. If that position were upheld, distributions on the Fund’s preferred
stock would be considered interest, taxable as ordinary income regardless of the taxable income of the Fund, and other adverse
consequences could result for the Fund or stockholders. The following discussion and the discussion in the SAI assume that any
preferred stock issued by the Fund will be treated as equity.

Distributions paid
to you by the Fund from its investment company taxable income (referred to hereinafter as “ordinary income dividends”)
are generally taxable to you as ordinary income to the extent of the Fund’s current or accumulated earnings and profits.
Provided that certain holding period and other requirements are met, such distributions (if properly reported by the Fund) may
qualify (i) for the dividends received deduction in the case of corporate stockholders to the extent that the Fund’s income
consists of dividend income from U.S. corporations, and (ii) in the case of individual stockholders, as qualified dividend income
eligible to be taxed at long term capital gains rates to the extent that the Fund receives qualified dividend income. Qualified
dividend income is, in general, dividend income from taxable domestic corporations and certain qualified foreign corporations.
There can be no assurance as to what portion of the Fund’s distributions will be eligible for the dividends received deduction
or for the reduced rates applicable to qualified dividend income.

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Distributions made
to you from net capital gain (“capital gain dividends”), including capital gain dividends credited to you but retained
by the Fund, are taxable to you as long term capital gains if they have