Company: BIAF
Filing Date: 2025-05-23
Form Type: PRER14A
Source: 0001641172-25-012315
Chunk: 40

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-23
Form: PRER14A
Chunk 40
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. holder is an individual present in the United States
for 183 days or more in the taxable year of the Reverse Stock Split and certain other requirements are met, the non-U.S. holder will
be subject to a 30% tax (or such lower rate as may be specified by an applicable income tax treaty between the United States and such
holder’s country of residence) on the net gain from the exchange of the shares of our Common Stock, which may be offset by certain
U.S.-source capital losses of the non-U.S. holder, if any.

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Notwithstanding the foregoing, with respect to a non-U.S.
holder that receives cash in lieu of a fractional share of our Common Stock pursuant to the Reverse Stock Split and whose proportionate
interest in us is not reduced (after taking into account certain constructive ownership rules), the gain will be treated as a dividend
rather than capital gain to the extent of the non-U.S. holder’s ratable share of our current or accumulated earnings and profits
as calculated for U.S. federal income tax purposes, then as a tax-free return of capital to the extent of (and in reduction of) the non-U.S.
holder’s aggregate adjusted tax basis in the shares, and any remaining amount will be treated as capital gain.

We will withhold U.S. federal income taxes equal to
30% of any cash payments made to a non-U.S. holder as a result of the Reverse Stock Split that may be treated as a dividend, unless such
holder properly demonstrates that a reduced rate of U.S. federal income tax withholding or an exemption from such withholding is applicable.
For example, an applicable income tax treaty may reduce or eliminate U.S. federal income tax withholding, in which case a non-U.S. holder
claiming a reduction in (or exemption from) such tax must provide us with a properly completed IRS Form W-8BEN (or other appropriate IRS
Form W-8) claiming the applicable treaty benefit. Alternatively, an exemption generally should apply if the non-U.S. holder’s gain
is effectively connected with a U.S. trade or business of such holder, and such holder provides us with an appropriate statement to that
effect on a properly completed IRS Form W-8ECI.

Non-U.S. holders should consult their own tax advisors
regarding possible dividend treatment and should consult their own tax advisor regarding the U.S. federal, state, local, and foreign income
and other tax consequences of the Reverse Stock Split