December 20, 1989
TO: MEMBERS - ONE PER COMPLEX NO. 43-89
CLOSED-END FUND MEMBERS NO. 71-89
TAX MEMBERS NO. 49-89
UNIT INVESTMENT TRUST MEMBERS NO. 72-89
ACCOUNTING/TREASURERS MEMBERS NO. 7-89
RE: SURVEYS OF STATE INCOME TAXATION
__________________________________________________________
As you know, the Institute surveys the states and the
District of Columbia annually on a variety of tax issues.
Attached are four updated surveys relating to:
(1) state income taxation of dividends paid by regulated
investment companies that are derived from interest on
federal obligations;
(2) state taxation of state and local income;
(3) state taxation of long-term capital gain distributions
made by regulated investment companies to individual
shareholders; and
(4) deductibility under state laws of contributions to
certain qualified retirement plans.
A few jurisdictions, including Delaware, South Carolina and
West Virginia, either provided no response to our survey or
provided only a partial response. In these cases, we relied upon
last year's responses (where appropriate) or indicated no
response. While we believe that the information in these surveys
is otherwise complete, shareholders should consult their own tax
advisors for specific guidance.
We will keep you informed of developments.
Keith D. Lawson
Assistant General Counsel
Attachments