Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 177

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 10
Chunk 177
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 entity treated as a corporation                                                                                          

  an estate, the income of which is subject to           

  a trust if (a) a U. S. court can exercise primary                                                                                   

For purposes of this discussion, a “non-U. S.
Holder” is a beneficial owner of our Ordinary Shares that is neither a U. S. Holder nor a partnership or an entity or arrangement
treated as a partnership for U. S. federal income tax purposes.

Treatment as a Domestic Corporation for U. S.
Federal Income Tax Purposes

Even though we are organized as an exempted company
incorporated with limited liability under the laws of the Cayman Islands, as a result of the Merger, we believe we are treated as a domestic
corporation for U. S. federal income tax purposes pursuant to Section 7874 of the Code. As such, we will generally be subject to U. S. federal
income tax as if we were organized under the laws of the United States or a state thereof. The remaining discussion contained in this
“Material U. S. Federal Income Tax Considerations” assumes that we will be treated as a domestic corporation for all
U. S. federal income tax purposes.

Tax Considerations Applicable to U. S. Holders

Taxation of Distributions

If we pay distributions (other than certain distributions
of our stock or rights to acquire our stock) to U. S. Holders of our Ordinary Shares, such distributions generally will constitute dividends
for U. S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U. S.
federal income tax principles. Distributions in excess of our current and accumulated earnings and profits will constitute a return of
capital that will be applied against and reduce (but not below zero) the U. S. Holder’s adjusted tax basis in our Ordinary Shares.
Any remaining excess will be treated as gain realized on the sale or other disposition of the Ordinary Shares and will be treated as described
under “ - Tax Considerations Applicable to U. S. Holders - Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition
of Ordinary Shares” below.

Dividends that we pay to a U. S. Holder that is
a taxable corporation will generally qualify for the dividends received deduction if the requisite holding period is satisfied. With certain
exceptions (including dividends treated as investment income for purposes of investment interest deduction limitations), and provided