An investor's pro rata portion of that income will be taxed at the investor's ordinary income tax rate. (proshares.com)
To the extent the Offerings either (i) own less than 100 % equity of portfolio companies or (ii) have purchased notes issued from portfolio companies (both of which are often the case), revenue may not be a relevant factor because the Offerings will only benefit from their pro rata portion of their equity ownership, or are not entitled to anything beyond interest and principal, respectively. (gpb-cap.com)
For a new program in the first year of implementation only, a program operating less than a full school year will receive state funds on a fractional basis determined by the pro rata portion of the school year the program is provided. (doe.virginia.gov)