Company: WELPM
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001104659-25-118058
Chunk: 19

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 19
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 income tax on such interest on a net income basis at the rate applicable to United States Persons
generally (and, with respect to corporate Non-United States Holders, may also be subject to a 30% branch profits tax (or a lower
applicable treaty branch profits tax rate)). If interest on the Debentures is effectively connected with the conduct by a Non-United States
Holder of a trade or business within the United States (and, if certain tax treaties apply, is attributable to a permanent establishment
or fixed base within the United States), such interest payments will not be subject to United States withholding tax if the Non-United
States Holder provides to the applicable withholding agent the appropriate documentation (generally an IRS Form W-8ECI).

Sale or Other Taxable Disposition of the Debentures

Subject to the “—Information
Reporting and Backup Withholding” and “—FATCA Withholding” summaries below, a Non-United States Holder generally
will not be subject to United States federal withholding tax with respect to gain, if any, recognized on the sale, exchange, redemption
or other taxable disposition of the Debentures. A Non-United States Holder will also generally not be subject to United States federal
income tax with respect to such gain, unless (i) the gain is effectively connected with the conduct by such Non-United States Holder
of a trade or business within the United States, and, if certain tax treaties apply, is attributable to a permanent establishment
or fixed base within the United States, or (ii) in the case of a Non-United States Holder that is a nonresident alien individual,
such Non-United States Holder is present in the United States for 183 or more days in the taxable year of the disposition and certain
other conditions are satisfied. In the case described in (i) above, gain recognized on the disposition of such Debentures generally
will be subject to United States federal income taxation in the same manner as if such gain were recognized by a United States Person,
and, in the case of a Non-United States Holder that is a foreign corporation, may also be subject to the branch profits tax at a rate
of 30% (or a lower applicable treaty branch profits tax rate). In the case described in (ii) above, the Non-United States Holder
will be subject to a 30% tax (or lower applicable treaty rate) on any capital gain recognized on the disposition of the Debentures (which