Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 40

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 40
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 tax treaties apply, is not
attributable to a non-U.S. holder’s permanent establishment in the United States), (ii) with respect to a non-U.S. holder
who is an individual, such non-U.S. holder is present in the United States for less than 183 days in the taxable year of the Reverse
Stock Split and other conditions are met, and (iii) such non-U.S. holder complies with certain certification requirements. If
such gain is effectively connected with the non-U.S. holder’s conduct of a trade or business in the U.S., and if an applicable
income tax treaty so provides, the gain is attributable to a permanent establishment or fixed base maintained by the non-U.S. holder
in the United States, the non-U.S. holder will be taxed on a net income basis at the regular tax rates and in the manner applicable to
U.S. holders, and if the non-U.S. holder is a corporation, an additional branch profits tax at a rate of 30%, or a lower rate as may
be specified by an applicable income tax treaty, may also apply. If the non-U.S. 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