Company: NMZ
Filing Date: 2025-09-29
Form Type: N-14 8C
Source: 0001999371-25-014188
Chunk: 179

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-09-29
Form: N-14 8C
Chunk 179
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 an amount equal to the difference between the amount
of undistributed capital gains included in the shareholder’s gross income and the tax deemed paid by the shareholder under
clause (2) of the preceding sentence.

The Internal Revenue Service (the “IRS”)
currently requires that a RIC that has two or more classes of stock allocate to each such class proportionate amounts of each type
of its income (such as exempt interest, ordinary income and capital gains). Accordingly, the Acquiring Fund reports dividends made
with respect to common shares and preferred shares as consisting of particular types of income (e.g., exempt interest, net capital
gains and ordinary income) in accordance with each class’s proportionate share of the total dividends paid by the Acquiring
Fund with respect to the year.

Dividends declared by the Acquiring Fund
in October, November or December to shareholders of record in one of those months and paid during the following January will
be treated as having been paid by the Acquiring Fund and received by shareholders on December 31 of the year the distributions
were declared.

Each shareholder will receive an annual
statement summarizing the shareholder’s dividend and capital gains distributions.

The redemption, sale or exchange of shares
normally will result in capital gain or loss to U.S. shareholders who hold their shares as capital assets. Generally, a U.S. shareholder’s
gain or loss will be long-term capital gain or loss if the shares have been held for more than one year even though the increase
in value in such shares is attributable to tax-exempt interest income. The gain or loss on shares held for one year or less will
generally be treated as short-term capital gain or loss. Current federal income tax law taxes both long-term and short-term capital
gains of corporations at the same rates applicable to ordinary income. However, for noncorporate U.S. shareholders, long-term capital
gains are currently taxed at a maximum federal income tax rate of 20%, while short-term capital gains are currently taxed at ordinary
income rates. An additional 3.8% Medicare tax may also apply to certain individual, estate or trust shareholders’ capital
gain from the sale or other disposition of their shares. Any loss on the sale of shares that have been held for six months or less
will be disallowed to the extent of any distribution of exempt-interest dividends received with respect to such shares, unless
the shares are of a RIC that declares exempt-interest dividends on a daily basis in an amount equal to