November 21, 1990
TO: MEMBERS - ONE PER COMPLEX NO. 51-90
CLOSED-END FUND MEMBERS NO. 46-90
TAX MEMBERS NO. 48-90
UNIT INVESTMENT TRUST MEMBERS NO. 73-90
ACCOUNTING/TREASURERS MEMBERS NO. 23-90
RE: 1990 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 obligations;
(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 Massachusetts and West
Virginia, either provided no response to our survey or provided
only a partial response. In these cases, we relied upon prior
years' 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
Associate General Counsel
David J. Mangefrida, Jr.
Assistant General Counsel
Attachments