| 2012 Important Tax Exempt Fund Information |
| Federal Tax Treatment |
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Federal tax law allows dividends from mutual funds investing in municipal obligations to be considered tax exempt dividends. Exempt-interest dividends are now reported on Form 1099-DIV, Box 10. They will no longer be reported on Form 1099-INT, interest income. The amount reported on your Form 1099-DIV, Box 1a, represents the small amount of taxable income that can result from normal investment operations of municipal funds and short term capital gain distributions. Form 1099-DIV, Box 2a is taxable capital gains distributions. The amount reported on your Form 1099-DIV must be included in your tax return.
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| State and Local Tax Treatment |
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Some of the Federal tax exempt dividends may also be exempt from state and local taxes, depending upon where you file your return. Listed below is the percentage of income by state. As state and local tax regulations vary from state to state, not all permit such exclusion. For example, Illinois does not allow a taxpayer to exempt interest paid on Illinois state and local government obligations, if the obligations are held by a shareholder in a mutual fund. Please consult your tax advisor. If the tax law of your state provides for the exemption, multiply the total income distribution shown on your year end account statement by the appropriate percentage below. This amount can be excluded and the remaining balance should be reported on your state return.
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| STATE | California Tax-Free Money Market Fund (2) | California Intermediate Tax-Free Bond Fund | National Intermediate Tax-Free Bond Fund (1) | Wisconsin Tax-Exempt Fund | | | | | | | Alabama | 0.00% | 0.00% | 0.00% | 0.00% | | | Alaska | 0.00% | 0.00% | 4.95% | 0.00% | | | Arizona | 0.00% | 0.00% | 2.68% | 0.00% | | | Arkansas | 0.00% | 0.00% | 0.00% | 0.00% | | | California | 77.72% | 100.00% | 25.76% | 0.00% | | | Colorado | 0.00% | 0.00% | 0.39% | 0.00% | | | Connecticut | 0.95% | 0.00% | 1.41% | 0.00% | | | Delaware | 0.00% | 0.00% | 0.00% | 0.00% | | | District of Columbia | 0.00% | 0.00% | 0.00% | 0.00% | | | Florida | 0.00% | 0.00% | 1.06% | 0.00% | | | Georgia | 0.00% | 0.00% | 1.52% | 0.00% | | | Guam | 0.00% | 0.00% | 0.00% | 0.53% | | | Hawaii | 0.00% | 0.00% | 5.91% | 0.00% | | | Idaho | 0.00% | 0.00% | 5.92% | 0.00% | | | Illinois | 0.00% | 0.00% | 9.22% | 0.00% | | | Indiana | 0.00% | 0.00% | 0.00% | 0.00% | | | Iowa | 0.00% | 0.00% | 0.00% | 0.00% | | | Kansas | 0.00% | 0.00% | 0.00% | 0.00% | | | Kentucky | 0.00% | 0.00% | 0.00% | 0.00% | | | Louisiana | 0.00% | 0.00% | 0.00% | 0.00% | | | Maine | 0.00% | 0.00% | 0.00% | 0.00% | | | Maryland | 0.00% | 0.00% | 0.00% | 0.00% | | | Massachusetts | 0.00% | 0.00% | 4.38% | 0.93% | | | Michigan | 0.00% | 0.00% | 0.00% | 0.00% | | | Minnesota | 0.00% | 0.00% | 0.00% | 0.00% | | | Mississippi | 0.00% | 0.00% | 0.00% | 0.00% | | | Missouri | 0.00% | 0.00% | 0.00% | 0.00% | | | Montana | 0.00% | 0.00% | 0.00% | 0.00% | | | Nebraska | 0.00% | 0.00% | 0.00% | 0.00% | | | Nevada | 0.00% | 0.00% | 4.56% | 0.00% | | | New Hampshire | 0.00% | 0.00% | 0.00% | 0.00% | | | New Jersey | 3.99% | 0.00% | 2.96% | 0.00% | | | New Mexico | 0.00% | 0.00% | 0.00% | 0.00% | | | New York | 0.00% | 0.00% | 6.00% | 0.00% | | | North Carolina | 0.00% | 0.00% | 0.31% | 0.00% | | | North Dakota | 1.31% | 0.00% | 0.00% | 0.00% | | | Ohio | 0.00% | 0.00% | 0.04% | 0.00% | | | Oklahoma | 0.00% | 0.00% | 0.00% | 0.00% | | | Oregon | 0.99% | 0.00% | 4.72% | 0.00% | | | Pennsylvania | 4.90% | 0.00% | 0.25% | 0.00% | | | Puerto Rico | 0.29% | 0.00% | 0.00% | 28.21% | | | Rhode Island | 0.00% | 0.00% | 0.00% | 0.00% | | | South Carolina | 0.07% | 0.00% | 0.00% | 0.00% | | | South Dakota | 0.00% | 0.00% | 0.00% | 0.00% | | | Tennessee | 0.00% | 0.00% | 0.00% | 0.00% | | | Texas | 0.50% | 0.00% | 10.35% | 0.00% | | | Utah | 0.00% | 0.00% | 1.95% | 0.00% | | | Vermont | 0.00% | 0.00% | 0.00% | 0.00% | | | Virgin Islands | 0.00% | 0.00% | 0.00% | 5.05% | | | Virginia | 0.00% | 0.00% | 0.51% | 0.00% | | | Washington | 0.00% | 0.00% | 5.15% | 0.00% | | | West Virginia | 0.00% | 0.00% | 0.00% | 0.00% | | | Wisconsin | 9.28% | 0.00% | 0.00% | 65.28% | | | Wyoming | 0.00% | 0.00% | 0.00% | 0.00% | | | *Alternative Minimum Tax | 12.87% | 0.00% | 0.00% | 0.00% | |
* If you are preparing IRS form 6251 to determine if you are subject to Alternative Minimum Tax, the percentage above should be applied to the ordinary income distributions reflected in your year end account statement when calculating the adjustment necessary on IRS Form 6251.
(1) For shareholders of these funds that are residents of California, Connecticut and New York all of the income distribution by these funds is subject to state income tax.
(2) For shareholders that are residents of Connecticut all of the income distribution is subject to state income tax.
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