Company: GGT-PG
Filing Date: 2025-10-14
Form Type: 424B2
Source: 0001829126-25-008100
Chunk: 61

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-10-14
Form: 424B2
Chunk 61
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 the Fund. If that position were upheld, distributions on the Fund’s preferred
stock would be considered interest, taxable as ordinary income regardless of the taxable income of the Fund, and other adverse
consequences could result for the Fund or stockholders. The following discussion and the discussion in the SAI assume that any
preferred stock issued by the Fund will be treated as equity.

Distributions paid
to you by the Fund from its investment company taxable income (referred to hereinafter as “ordinary income dividends”)
are generally taxable to you as ordinary income to the extent of the Fund’s current or accumulated earnings and profits.
Provided that certain holding period and other requirements are met, such distributions (if properly reported by the Fund) may
qualify (i) for the dividends received deduction in the case of corporate stockholders to the extent that the Fund’s income
consists of dividend income from U.S. corporations, and (ii) in the case of individual stockholders, as qualified dividend income
eligible to be taxed at long term capital gains rates to the extent that the Fund receives qualified dividend income. Qualified
dividend income is, in general, dividend income from taxable domestic corporations and certain qualified foreign corporations.
There can be no assurance as to what portion of the Fund’s distributions will be eligible for the dividends received deduction
or for the reduced rates applicable to qualified dividend income.

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Distributions made
to you from net capital gain (“capital gain dividends”), including capital gain dividends credited to you but retained
by the Fund, are taxable to you as long term capital gains if they have been properly reported by the Fund, regardless of the length
of time you have owned your Fund shares. Long term capital gain of individuals is generally subject to reduced U.S. federal income
tax rates.

Distributions in excess
of the Fund’s current and accumulated earnings and profits will be treated as a tax-free return of capital to the extent
of your adjusted tax basis of your shares and thereafter will be treated as capital gains. The amount of any Fund distribution
that is treated as a tax-free return of capital will reduce your adjusted tax basis in your shares, thereby increasing your potential
gain or reducing your potential loss on any subsequent sale or other disposition of your shares. In determining the extent to which
a distribution will be treated as being made from the Fund’s earnings and profits, earnings and profits will be allocated
on a pro rata basis first to distributions with respect