Company: MSEX
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047381
Chunk: 16

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-12
Form: 424B5
Chunk 16
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 with an IRS Form W-8ECI (or applicable
successor form), duly completed and executed, properly certifying such exemption. Such effectively connected dividends, although not subject
to withholding tax, are taxed by the United States at the same graduated rates applicable to U.S. persons, net of certain deductions and
credits, subject to an applicable income tax treaty providing otherwise. In addition, if you are a corporate non-U.S. holder, dividends
you receive that are effectively connected with your conduct of a U.S. trade or business (and, if an income tax treaty applies, are attributable
to a permanent establishment or fixed base maintained by you in the United States) may be subject to an additional branch profits tax
at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty) on its effectively connected earnings and
profits for the taxable year, as adjusted for certain items. You should consult your own tax advisor regarding any applicable branch profits
tax or income tax treaties that may provide for different rules.

Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock

Subject to the discussion
below under the headings “Backup Withholding and Information Reporting” and “Foreign Accounts,” you generally
will not be required to pay U.S. federal income tax on any gain realized upon the sale, taxable exchange or other taxable disposition
of our Common Stock unless:

| · | the gain is effectively connected with your conduct of a U.S. trade or business (and, if an income tax                                       
 treaty applies, the gain is attributable to a permanent establishment or fixed base maintained by you in the United States), in which        
 case you will be required to pay tax on the net gain derived from the sale, taxable exchange or other taxable disposition under regular      
 graduated U.S. federal income tax rates. If you are a non-U.S. holder that is a corporation, you may be subject to the additional branch     
 profits tax at a 30% rate (or such lower rate as may be specified by an applicable income tax treaty) on your effectively connected earnings 
 and profits for the taxable year, as adjusted for certain items;                                                                             |

<div align='center'>S-12</div>

| · | you are a nonresident alien individual who is present in the United States for a period or periods aggregating                                 
 183 days or more during the calendar year in which the sale, taxable exchange or other taxable disposition occurs and certain other conditions 
 are met,