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rtner should not be subject to New York State personal income tax with respect to his share of income or gain realized directly by Millennium USA. Individual Limited Partners who are residents of New York State and New York City should be aware that the New York State and New York City personal income tax laws limit the
and Millennium USA has been structured, among other reasons, to give U.S. taxpayers an opportunity to invest in the Master Partnership indirectly. Capital Structure Millennium USA and Millennium International and other existing feeder funds have, and feeder funds that may be formed in the future may have, a var
rtner should not be subject to New York State personal income tax with respect to his share of income or gain realized directly by Millennium USA. Individual Limited Partners who are residents of New York State and New York City should be aware that the New York State and New York City personal income tax laws limit the
ct or indirect subsidiaries that may trade in their own names and are generally consolidated into the financial reports of the Master Partnership. Capital Structure The equity ownership of the Master Partnership is divided into general partner interests and limited partner interests. The interests differ in the
rtner should not be subject to New York State personal income tax with respect to his share of income or gain realized directly by Millennium USA. Individual Limited Partners who are residents of New York State and New York City should be aware that the New York State and New York City personal income tax laws limit the
ct or indirect subsidiaries that may trade in their own names and are generally consolidated into the financial reports of the Master Partnership. Capital Structure The equity ownership of the Master Partnership is divided into general partner interests and limited partner interests. The interests differ in the
Entities connected to both Individual Limited Partners and Capital Structure

U.S. Treasury
ORGANIZATIONKeogh
ORGANIZATIONCayman
LOCATION
New York
LOCATIONthe U.S. Investment Company Act
ORGANIZATIONMaster-Feeder Relationship
ORGANIZATIONThe Master Partnership's Organization
ORGANIZATIONIndependent Public Accountants
ORGANIZATIONMillennium Partners
ORGANIZATION
Millennium
ORGANIZATIONErnst & Young LLP
ORGANIZATIONTrigger Event
ORGANIZATIONMillennium USA's
LOCATIONMillennium International, Ltd.
ORGANIZATIONManagement of Millennium USA
ORGANIZATIONDeductibility of Interest
ORGANIZATION
the Internal Revenue Service
ORGANIZATION
United States
LOCATION
Ghislaine Maxwell
PERSON
United Kingdom
LOCATION