Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 74

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 74
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interest” (which may include equity securities in companies that own significant interests in U.S. real estate), the Fund is a “qualified
investment entity” (generally, an entity that either is a USRPHC or would be a USRPHC but for the operation of certain exceptions
to the definition thereof). The determination of whether the Fund is a USRPHC or qualified investment entity will depend on the exact
nature of its assets, and no assurances can be given in that regard. Though the Fund expects that its Common Shares will be treated as
“regularly traded” on an established securities market, no assurance can be given in this regard. Special certification requirements
apply to a non-U.S. shareholder that is a foreign partnership or a foreign trust, and such entities are urged to consult their tax advisors.

Subject to the discussion of
FATCA below, properly reported dividends paid by the Fund to non-U.S. shareholders are generally exempt from U.S. federal withholding
tax where they (i) are paid in respect of the Fund’s “qualified net interest income” (generally, the Fund’s U.S.-source
interest income, other than certain contingent interest and interest from obligations of a corporation or partnership in which the Fund
is at least a 10% shareholder, reduced by expenses that are allocable to such income) or (ii) are paid in respect of the Fund’s
“qualified short-term capital gains” (generally, the excess of the Fund’s net short-term capital gain over the Fund’s
long-term capital loss for such taxable year). In order to qualify for this exemption from withholding, a non-U.S. shareholder must comply
with applicable certification requirements relating to its non-U.S. status (including, in general, furnishing an IRS Form W-8BEN
or W8BEN-E or substitute form). In the case of Common Shares held through an intermediary, the intermediary may withhold even if the Fund
designates the payment as qualified net interest income or qualified short-term capital gain. Non-U.S. shareholders should contact their
intermediaries with respect to the application of these rules to their accounts. There can be no assurance as to what portion, if any,
of the Fund’s distributions would qualify for favorable treatment as “qualified net interest income” or “qualified
short-term capital gains.”

Notwithstanding the foregoing,
under certain provisions of the Code referred to as “FATCA,” withholding at a rate of 30% will be