Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 61

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 61
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 rendering its opinion, Willkie will also rely upon certain representations of the management of each Fund and assume, among other things, that the Reorganizations will be consummated in accordance with each Reorganization Agreement and other operative documents and as described herein. An opinion of counsel is not binding on the IRS or any court. As a reorganization, the U.S. federal income tax consequences of the Reorganizations can be summarized as follows:

| ● |     | No gain or loss will be recognized by a Fund by reason of the Reorganizations. |

| ● |     | No gain or loss will be recognized by a shareholder of MVT, MIY and MVF who exchanges, as the case may be, all                                                                                                                                            
 of its common shares solely for Acquiring Fund common shares or all of its MVT, MIY or MVF VRDP Shares solely for Acquiring Fund VRDP Shares pursuant to the Reorganizations (except with respect to cash received in lieu of a fractional Acquiring Fund 
 Common Share, as discussed below).                                                                                                                                                                                                                        |

| ● |     | The aggregate tax basis of Acquiring Fund common shares received by a shareholder of MVT, MIY or MVF pursuant                                                                                                                                        
 to the Reorganizations will be the same as the aggregate tax basis of the shareholder’s MVT, MIY or MVF common shares surrendered in exchange therefor (reduced by any amount of tax basis allocable to a fractional Acquiring Fund Common Share for 
 which cash is received).                                                                                                                                                                                                                             |

| ● |     | The holding period of Acquiring Fund common shares received by a shareholder of MVT, MIY and MVF pursuant to             
 the Reorganizations will include the holding period of the shareholder’s common shares surrendered in exchange therefor. |

| ● |     | A shareholder of MVT, MIY and MVF that receives cash in lieu of a fractional Acquiring Fund Common Share in                                                                                                                                          
 connection with the Reorganizations will be treated as having received cash in exchange for such fractional Acquiring Fund Common Share. A MVT, MIY or MVF shareholder that receives cash in lieu of a fractional Acquiring Fund Common Share will   
 recognize capital gain or loss equal to the difference between the amount of cash deemed received for the fractional Acquiring Fund Common Share and MVT, MIY or MVF shareholder’s tax basis in MVT, MIY or MVF common shares allocable to the       
 fractional Acquiring Fund Common Share. The capital gain or loss will be a long-term capital gain or loss if MVT