AMZA Modifies Estimate of Deferred Tax Liability
The Fund’s estimates regarding its deferred tax liability are made in good faith; however, the daily estimate of the Fund’s deferred tax liability used to calculate the Fund’s NAV could vary significantly from the Fund’s actual tax liability.
- The Fund’s estimates regarding its deferred tax liability are made in good faith; however, the daily estimate of the Fund’s deferred tax liability used to calculate the Fund’s NAV could vary significantly from the Fund’s actual tax liability.
- The Fund’s accrued deferred tax liability, if any, is reflected each day in the Fund’s net asset value per share.
- The deferred income tax expense/(benefit) represents an estimate of the Fund’s potential tax expense/(benefit) if it were to recognize the unrealized gains/ (losses) in the portfolio.
- Therefore, any estimate of deferred income tax expense/(benefit) cannot be reliably predicted from year to year.