Company: GGT-PG
Filing Date: 2025-10-14
Form Type: 424B2
Source: 0001829126-25-008100
Chunk: 60

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-10-14
Form: 424B2
Chunk 60
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 31 of the calendar year (unless an election is made to use the Fund’s fiscal year). In addition, the minimum
amounts that must be distributed in any year to avoid the federal excise tax will be increased or decreased to reflect any under-distribution
or over-distribution, as the case may be, from previous years. For purposes of the excise tax, the Fund will be deemed to have
distributed any income on which it paid U.S. federal income tax. Although the Fund intends to distribute any income and capital
gains in the manner necessary to minimize imposition of the 4% federal excise tax, there can be no assurance that sufficient amounts
of the Fund’s ordinary income and capital gains will be distributed to avoid entirely the imposition of the tax. In that
event, the Fund will be liable for the tax only on the amount by which it does not meet the foregoing distribution requirement.

Certain of the Fund’s
investment practices are subject to special and complex U.S. federal income tax provisions that may, among other things, (i) disallow,
suspend or otherwise limit the allowance of certain losses or deductions, (ii) convert lower taxed long term capital gains or qualified
dividend income into higher taxed short term capital gains or ordinary income, (iii) convert an ordinary loss or a deduction into
a capital loss (the deductibility of which is more limited), (iv) cause the Fund to recognize income or gain without a corresponding
receipt of cash, (v) adversely affect the time as to when a purchase or sale of stock or securities is deemed to occur, (vi) adversely
alter the characterization of certain complex financial transactions and (vii) produce income that will not qualify as good income
for purposes of the 90% annual gross income requirement described above. These U.S. federal income tax provisions could therefore
affect the amount, timing and character of distributions to stockholders.

If for any taxable
year the Fund were to fail to qualify as a RIC, all of its taxable income (including its net capital gain) would be subject to
tax at regular corporate rates without any deduction for distributions to stockholders.

Taxation of Stockholders

The Fund expects to
take the position that under present law any preferred stock that it issues will constitute equity rather than debt of the Fund
for U.S. federal income tax purposes. It is possible, however, that the IRS could take a contrary position asserting, for example,
that such preferred stock constitutes debt of