Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 178

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 178
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 “Code”) or tax-exempt or tax-advantaged plans, accounts, or entities.
In addition, the discussion does not address any state, local or foreign tax consequences. The discussion reflects applicable federal
income tax laws of the United States as of the date of this Prospectus, which tax laws may be changed or subject to new interpretations
by the courts or the Internal Revenue Service (“IRS”) retroactively or prospectively. No attempt is made to present
a detailed explanation of all federal income tax concerns affecting the Acquiring Fund and its shareholders, and the discussion
set forth herein does not constitute tax advice. Please see the Merger SAI for additional information. Investors should rely on
their own tax adviser for advice about the particular federal, foreign, state and local tax consequences to them of investing in
the Acquiring Fund.

For purposes of this summary,
a “U.S. shareholder” is a beneficial owner of shares of the Acquiring Fund that is, for federal income tax purposes,
(i) an individual who is a citizen or resident of the United States, (ii) a corporation created or organized in or under the laws
of the United States, any state thereof or the District of Columbia, (iii) an estate the income of which is subject to U.S. federal
income tax regardless of its source or (iv) a trust (x) with respect to which a court within the United States is able to exercise
primary supervision over its administration and one or more United States persons (as defined under the Code) have the authority
to control all of its substantial decisions or (y) that has in effect a valid election under applicable U.S. Treasury regulations
to be treated as a United States person (as such term is defined under the Code).

The Acquiring Fund has elected to be treated
and intends to qualify each year (including the taxable year in which the Mergers occur) as a regulated investment company (“RIC”)
under Subchapter M of the Code. In order to qualify as a RIC, the Acquiring Fund must satisfy certain requirements regarding the
sources of its income, the diversification of its assets and the distribution of its income. As a RIC, the Acquiring Fund is not
expected to be subject to federal income tax on the income and gains it distributes to its U.S. shareholders. The Acquiring Fund
invests primarily in municipal securities. Thus, substantially all of the Acquiring Fund’s dividends paid to you should qualify
as “exempt-interest