Company: GNTOF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001062993-25-008252
Chunk: 37

Company: GENTOR RESOURCES INC.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 37
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 amount of cash plus the fair market value of any property received and (ii) such U. S. Holder's tax basis in the shares sold or otherwise disposed of. Gain or loss recognized on such sale or other disposition generally will be long-term capital gain or loss if, at the time of the sale or other disposition, the shares have been held for more than one year.

Preferential tax rates apply to long-term capital gains of a U. S. Holder that is an individual, estate, or trust. There are currently no preferential tax rates for long-term capital gains of a U. S. Holder that is a corporation. Deductions for capital losses are subject to significant limitations under the Code.

Receipt of Foreign Currency

Amounts paid to a U. S. Holder in foreign currency generally will be equal to the U. S. dollar value of such distribution based on the exchange rate applicable on the date of receipt. A U. S. Holder that does not convert foreign currency received into U. S. dollars on the date of receipt generally will have a tax basis in such foreign currency equal to the U. S. dollar value of such foreign currency on the date of receipt. Such U. S. Holder generally will recognize ordinary income or loss on the subsequent sale or other taxable disposition of such foreign currency (including an exchange for U. S. dollars), which generally would be treated as U. S. source ordinary income for foreign tax credit purposes. Different rules apply to U. S. Holders who use the accrual method of tax accounting.

Backup Withholding and Information Reporting

Information reporting requirements generally will apply to payments of dividends on Common Shares and to the proceeds of a sale of Common Shares paid to a U. S. Holder unless the U. S. Holder is an exempt recipient (such as a corporation). Payments made within the U. S. or by a U. S. payor or U. S. middleman, of dividends on, and proceeds arising from the sale or other taxable disposition of, Common Shares will generally be subject to information reporting and backup withholding tax, at the rate of 24%, if a U. S. Holder (i) fails to furnish such U. S. Holder's correct U. S. taxpayer identification number (generally on Form W-9), (ii) furnishes an incorrect U. S. taxpayer identification number, (iii) is notified by the IRS that such U. S. Holder has previously failed to properly report items subject to backup withholding tax