Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 93

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 93
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 distributions of the Fund’s net capital gain to a non-U.S. shareholder, and gains recognized by a non-U.S. shareholder upon
the sale of Common Shares, will generally not be subject to U.S. federal withholding tax and will not be subject to U.S. federal income
tax. Different tax consequences may result if (i) the non-U.S. shareholder is engaged in a trade or business in the United States (and,
if an income tax treaty applies, the non-U.S. shareholder’s income or gains are attributable to a permanent establishment maintained
by the shareholder in the United States), (ii) the non-U.S. shareholder is an individual that is present in the United States for 183
days or more during a taxable year and certain other conditions are met, or (iii) in the case of gain on the disposition of Common Shares,
the Fund is or has been a “United States real property holding corporation” (“USRPHC”) at any time within the
shorter of the five-year period ending on the date the Common Shares are sold or the period that such non-U.S. shareholder held the shares
(and as long as the Common Shares are treated as regularly traded on an established securities market, such non-U.S. shareholder owns
or owned (actually or constructively) more than five percent of the Common Shares at any time during the shorter of the two periods mentioned
above), or (iv) in the case of distributions that are attributable to the Fund’s gain on the disposition of a “U.S. real property
interest” (which may include equity securities in companies that own significant interests in U.S. real estate), the Fund is a “qualified
investment entity” (generally, an entity that either is a USRPHC or would be a USRPHC but for the operation of certain exceptions
to the definition thereof). The determination of whether the Fund is a USRPHC or qualified investment entity will depend on the exact
nature of its assets, and no assurances can be given in that regard. Though the Fund expects that its Common Shares will be treated as
“regularly traded” on an established securities market, no assurance can be given in this regard. Special certification requirements
apply to a non-U.S. shareholder that is a foreign partnership or a foreign trust, and such entities are urged to consult their tax advisors.

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Subject to the discussion of
FATCA below, properly reported dividends paid by