In most states, mutual fund dividends from interest on direct U.S. government securities are exempt from state and local taxes. To determine this amount for each of your funds, multiply the “% of dividends from U.S. government securities” (shown below in Column 1) by the amount for that fund in Box 1a of your Form 1099-DIV.
Check the specific requirements for your state. For example, some states only allow exemptions on dividends for those funds holding a minimum percentage, usually 50%, of government securities at the end of each quarter. We indicate in Column 3, below, whether any of your investments meet this requirement.
State Intangible Property Tax
If you pay state intangible property tax on the value of your fund, you may be able to exclude a portion of such value attributable to the fund’s investments in U.S. government securities. To determine this amount, multiply the “% of fund held in U.S. government securities on December 31, 2009” (shown below in Column 2) by the total value of your shares at year end. Consult your tax advisor or your state tax office for more information.
Interest on Direct U.S. Government Securities Tables
| |
Column 1
% of Dividends
from U.S.
Government
Securities |
Column 2
% of Funds Held
in U.S. Government
Securities on
December 31, 2009 |
Column 3
U.S. Government
Securities are at
Least 50% of Holdings
at each Quarter End |
| Balanced |
3% |
7% |
No |
| Blue Chip Growth |
— |
— |
No |
| Capital Appreciation |
1% |
— |
No |
| Capital Opportunity |
— |
1% |
No |
| Diversified Mid-Cap Growth |
N/A |
— |
No |
| Diversified Small-Cap Growth |
N/A |
— |
No |
| Dividend Growth |
— |
— |
No |
| Equity Income |
— |
— |
No |
| Equity Index 500 |
— |
— |
No |
| Extended Equity Market Index |
— |
1% |
No |
| Financial Services |
— |
— |
No |
| Growth & Income |
— |
— |
No |
| Growth Stock |
— |
— |
No |
| Health Sciences |
N/A |
— |
No |
| Media & Telecommunications |
— |
2% |
No |
| Mid-Cap Growth |
— |
3% |
No |
| Mid-Cap Value |
— |
— |
No |
| New America Growth |
N/A |
— |
No |
| New Era |
— |
— |
No |
| New Horizons |
— |
— |
No |
| Personal Strategy Balanced |
1% |
5% |
No |
| Personal Strategy Growth |
— |
2% |
No |
| Personal Strategy Income |
1% |
6% |
No |
| Real Estate |
— |
— |
No |
| Science & Technology |
N/A |
4% |
No |
| Small-Cap Stock |
— |
— |
No |
| Small-Cap Value |
— |
— |
No |
| Tax-Efficient Balanced1 |
— |
N/A |
N/A |
| Tax-Efficient Equity2 |
N/A |
— |
No |
| Tax-Efficient Growth3 |
— |
N/A |
N/A |
| Total Equity Market Index |
— |
1% |
No |
| U.S. Large-Cap Core |
— |
— |
No |
| Value |
— |
— |
No |
| |
Column 1
% of Dividends
from U.S.
Government
Securities |
Column 2
% of Funds Held
in U.S. Government
Securities on
December 31, 2009 |
Column 3
U.S. Government
Securities are at
Least 50% of Holdings
at each Quarter End |
| Corporate Income |
1% |
— |
No |
| Emerging Markets Bond |
— |
— |
No |
| GNMA |
— |
4% |
No |
| High Yield |
— |
1% |
No |
| Inflation Protected Bond |
86% |
91% |
Yes |
| International Bond |
— |
1% |
No |
| New Income |
3% |
15% |
No |
| Prime Reserve |
3% |
2% |
No |
| Short-Term Bond |
2% |
5% |
No |
| Strategic Income |
1% |
3% |
No |
| Summit Cash Reserves |
3% |
2% |
No |
| Summit GNMA |
— |
3% |
No |
| U.S. Bond Index |
14% |
27% |
No |
| U.S. Treasury Intermediate |
50% |
89% |
Yes |
| U.S. Treasury Long-Term |
50% |
91% |
Yes |
| U.S. Treasury Money |
78% |
79% |
No |
| |
Column 1
% of Dividends
from U.S.
Government
Securities |
Column 2
% of Funds Held
in U.S. Government
Securities on
December 31, 2009 |
Column 3
U.S. Government
Securities are at
Least 50% of Holdings
at each Quarter End |
| Africa & Middle East |
— |
— |
No |
| Emerging Europe & Mediterranean |
— |
— |
No |
| Emerging Markets Stock |
— |
— |
No |
| European Stock |
— |
— |
No |
| Global Large-Cap Stock |
— |
— |
No |
| Global Real Estate |
— |
— |
No |
| Global Stock |
— |
— |
No |
| Global Technology |
N/A |
2% |
No |
| International Discovery |
— |
— |
No |
| International Equity Index |
— |
— |
No |
| International Growth & Income |
— |
— |
No |
| International Stock |
— |
— |
No |
| Japan |
— |
— |
No |
| Latin America |
— |
— |
No |
| New Asia |
— |
— |
No |
| Overseas Stock |
— |
— |
No |
| |
Column 1
% of Dividends
from U.S.
Government
Securities |
Column 2
% of Funds Held
in U.S. Government
Securities on
December 31, 2009 |
Column 3
U.S. Government
Securities are at
Least 50% of Holdings
at each Quarter End |
| Retirement 2005 |
1% |
5% |
No |
| Retirement 2010 |
1% |
4% |
No |
| Retirement 2015 |
1% |
3% |
No |
| Retirement 2020 |
1% |
3% |
No |
| Retirement 2025 |
1% |
2% |
No |
| Retirement 2030 |
1% |
1% |
No |
| Retirement 2035 |
— |
1% |
No |
| Retirement 2040 |
— |
1% |
No |
| Retirement 2045 |
— |
1% |
No |
| Retirement 2050 |
— |
1% |
No |
| Retirement 2055 |
— |
1% |
No |
| Retirement Income |
2% |
5% |
No |
| Spectrum Growth |
— |
— |
No |
| Spectrum Income |
1% |
5% |
No |
| Spectrum International |
— |
— |
No |
| |
Column 1
% of Dividends
from U.S.
Government
Securities |
Column 2
% of Funds Held
in U.S. Government
Securities on
December 31, 2009 |
Column 3
U.S. Government
Securities are at
Least 50% of Holdings
at each Quarter End |
| Institutional Africa & Middle East |
— |
— |
No |
| Institutional Core Plus |
3% |
11% |
No |
| Institutional Emerging Markets Bond |
— |
— |
No |
| Institutional Emerging Markets Equity |
— |
— |
No |
| Institutional Floating Rate |
— |
1% |
No |
| Institutional Foreign Equity |
— |
— |
No |
| Institutional Global Equity |
— |
— |
No |
| Institutional Global Large-Cap Equity |
— |
— |
No |
| Institutional High Yield |
— |
1% |
No |
| Institutional International Bond |
— |
— |
No |
| Institutional Large-Cap Core Growth |
— |
— |
No |
| Institutional Large-Cap Growth |
— |
— |
No |
| Institutional Large-Cap Value |
— |
1% |
No |
| Institutional Mid-Cap Equity Growth |
N/A |
1% |
No |
| Institutional Small-Cap Stock |
— |
— |
No |
| Institutional U.S. Structured Research |
— |
10% |
No |
| |
Column 1
% of Dividends
from U.S.
Government
Securities |
Column 2
% of Funds Held
in U.S. Government
Securities on
December 31, 2009 |
Column 3
U.S. Government
Securities are at
Least 50% of Holdings
at each Quarter End |
| Blue Chip Growth Portfolio |
N/A |
— |
No |
| Equity Income Portfolio |
— |
— |
No |
| Equity Index 500 Portfolio |
— |
— |
No |
| Health Sciences Portfolio |
N/A |
— |
No |
| International Stock Portfolio |
— |
— |
No |
| Limited-Term Bond Portfolio |
3% |
6% |
No |
| Mid-Cap Growth Portfolio |
N/A |
3% |
No |
| New America Growth Portfolio |
N/A |
— |
No |
| Personal Strategy Balanced Portfolio |
2% |
5% |
No |
| Prime Reserve Portfolio |
2% |
2% |
No |
1Fund merged into Balanced Fund on August 31, 2009.
2Formerly Tax-Efficient Multi-Cap Growth Fund.
3Fund merged into Tax-Efficient Equity Fund on August 31, 2009.
Percentages are the same for all fund classes (Investor, Advisor, R, and II).
N/A is indicated where a fund did not pay a dividend or short-term capital gain, or pass through a foreign tax expense in 2009.
A dash indicates that the fund paid a dividend or short-term capital gain in 2009, but no income was from government securities.
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