1
*/ The section of the Missouri regulations requiring that at
least 50 percent of the fund’s assets be invested in exempt
obligations would not be changed by the proposed amendments.
BY FAX
September 11, 1992
TO: TAX COMMITTEE NO. 34-92
MONEY MARKET MEMBERS - ONE PER COMPLEX NO. 15-92
RE: MISSOURI PROPOSES PASS-THROUGH REGULATIONS
__________________________________________________________
The Missouri Department of Revenue has proposed the
attached amendments to regulations regarding the tax-exempt
status of U.S. Government-related obligations. Pursuant to the
proposed amendments, shareholders in funds holding any of the
listed obligations, who wished to claim the Missouri exemption
for federal obligation interest,*/1 would be required to attach to
their returns a "statement received from the mutual fund showing
the amount of monies received from each government obligation or
the percentage of funds received from each exempt obligation
(emphasis added)." This obligation-by-obligation breakdown of
income is not currently required by any state.
The Institute will submit comments on these proposed
regulations by the announced deadline of September 16, 1992. All
persons interested in having their particular concerns with the
proposed regulations included in the Institute’s submission are
requested to call David Mangefrida at (202) 955-3521 or Keith
Lawson at (202) 955-3585 no later than noon on Tuesday, September
15.
We will keep you informed of developments.
Keith D. Lawson
Associate Counsel - Tax
Attachment