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

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-12
Form: 424B5
Chunk 12
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 Common Stock purchased in accordance with this prospectus supplement, but does not purport to be a complete analysis of all the
potential tax consequences relating thereto. This discussion assumes that any distributions made (or deemed made) by us on our Common
Stock and any consideration received (or deemed received) by a holder in consideration for the sale or other disposition of our Common
Stock will be in U.S. dollars.

This summary is based upon
the provisions of the Internal Revenue Code of 1986, as amended, or the Code, final, temporary and proposed U.S. Treasury regulations
promulgated thereunder, administrative pronouncements and rulings, and judicial decisions, all as of the date hereof. These authorities
may be changed, possibly retroactively, so as to result in U.S. federal income tax consequences different from those set forth below.
We have not sought, and do not expect to seek, any ruling from the Internal Revenue Service, or the IRS, with respect to the statements
made and the conclusions reached in the following summary, and there can be no assurance that the IRS will agree with such statements
and conclusions, or that any IRS determination to the contrary may be upheld by a court. Moreover, there can be no assurance that future
legislation, regulations, administrative rulings or court decisions will not adversely affect the accuracy of the statements in this summary.

This summary also does not
address the tax considerations arising under the laws of any state of the United States or any local, non-U.S. or other taxing jurisdiction
or under U.S. federal non-income tax laws, such as gift and estate tax laws, or under any applicable tax treaty. This discussion does
not address the U.S. federal income tax consequences to our officers or directors. In addition, this discussion does
not address any potential application of the Medicare contribution tax on certain net investment income or any tax considerations applicable
to an investor’s particular circumstances or to investors that may be subject to special tax rules, including, without limitation:

| · | Banks, other financial institutions, investment funds or financial services entities; |

| · | insurance companies; |

| · | persons subject to the alternative minimum tax; |

| · | tax-exempt organizations or accounts, governmental organizations, tax-qualified retirement plans, and           
 “qualified foreign pension funds” as defined in Section 897(l)(2) of the Code and entities all of the interests 
 of which are held by qualified foreign pension funds;                                                           |

| · | “controlled foreign