Company: NTCL
Filing Date: 2025-02-18
Form Type: 20-F
Source: 0001410578-25-000153
Chunk: 162

Company: NetClass Technology Inc
Filing Date: 2025-02-18
Form: 20-F
Item: Item 10
Chunk 162
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2027, small, low profit enterprises is subject to the preferential income tax rate of 5% (only 25% of such taxable income shall be subject to enterprises income tax at a tax rate of 20%).
United States Federal Income
WE URGE POTENTIAL PURCHASERS OF OUR CLASS A ORDINARY SHARES TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE U.S. FEDERAL, STATE, LOCAL AND NON-U.S. TAX CONSEQUENCES OF PURCHASING, OWNING AND DISPOSING OF OUR CLASS A ORDINARY SHARES.

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The following does not address the tax consequences to any particular investor or to persons in special tax situations such as:

●   banks;
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●   financial institutions;
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●   insurance companies;
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●   regulated investment companies;
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●   advertising investment trusts;
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●   broker-dealers;
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●   persons that elect to mark their securities to market;
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●   U.S. expatriates or former long-term residents of the U.S.;
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●   governments or agencies or instrumentalities thereof;
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●   tax-exempt entities;
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●   persons liable for alternative minimum tax;
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●   persons holding our Class A ordinary shares as part of a straddle, hedging, conversion or integrated transaction;
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●   persons that actually or constructively own 10% or more of our voting power or value (including by reason of owning our ordinary share);
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●   persons who acquired our Class A ordinary shares pursuant to the exercise of any employee share option or otherwise as compensation;
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●   persons holding our Class A ordinary shares through partnerships or other pass-through entities;
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●   beneficiaries of a Trust holding our Class A ordinary shares; or
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●   persons holding our Class A ordinary shares through a Trust.
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Material Tax Consequences Applicable to U.S. Holders of Our Class A Ordinary Shares
The following sets forth the material U.S. federal income tax consequences related to the ownership and disposition of our Class A ordinary shares. It is directed to U.S. Holders (as defined below) of our Class A ordinary shares and is based upon laws and relevant interpretations thereof in effect as of the date of this annual report, all of which are subject to change. This description does not deal with all possible tax consequences relating to ownership and disposition of our Class A ordinary shares or U.S. tax