2019 Legg Mason Tax Guide
IMPORTANT TAX INFORMATION REGARDING YOUR MUTUAL FUNDS
This guide is a summary of tax information for certain Legg Mason, Brandywine Global, ClearBridge Investments, EnTrust Global, Martin Currie, QS Investors, RARE Infrastructure and Western Asset closed- end, open-end and exchange-traded funds. This information may be useful to you, as an investor, in the preparation of your 2019 Federal and state income tax returns. We recommend that you consult your tax advisor for assistance with how this information will impact your specific tax situation.
Table of contents | |
Exempt interest income - Multi-state funds | 2 |
Exempt interest income ‒ Single state funds | 4 |
Income from Federal obligations | 5 |
Foreign source income | 6 |
Dividends Received Deduction for Corporations | 8 |
Please see back cover for important disclosures | Click here |
SECTION 1
In this section you will find information for the Western Asset multi-state funds that have paid income dividends which are tax- exempt for regular Federal income tax purposes. The percentages of income earned by the funds from each state or U.S. Territory are listed below.
See Footnotes after Section 5.
Exempt interest income - Multi-state funds
Western Asset | Western Asset | Western Asset | Western Asset | Western Asset | Western Asset Select | ||||||||
Short Duration | Tax Free Reserves and | ||||||||||||
Intermediate-Term | Managed | Municipal High Income | Municipal | SMASh Series TF | Western Asset Tax Free | ||||||||
Municipals Fund | Municipals Fund | Fund | Income Fund | Fund | Reserves | ||||||||
Alabama | 0.66 | % | 3.65 | % | 6.97 | % | 5.75 | % | 1.61 | % | 0.06 | % | |
Alaska | 0.04 | 0.22 | - | 0.52 | 0.10 | 0.20 | |||||||
Arizona | 1.81 | 1.50 | 3.16 | 2.09 | 7.39 | 1.66 | |||||||
Arkansas | - | - | - | - | - | - | |||||||
California | 17.02 | 18.51 | 8.41 | 2.20 | 15.73 | 1.68 | |||||||
Colorado | 4.39 | 2.69 | 5.45 | 4.04 | 1.53 | 0.83 | |||||||
Connecticut | 0.90 | 1.43 | 0.30 | 4.02 | 2.74 | 2.66 | |||||||
Delaware | 0.22 | 0.49 | 1.95 | - | 0.15 | 1.15 | |||||||
District of Columbia | 0.48 | 0.63 | 1.22 | - | 0.34 | 0.68 | |||||||
Florida | 5.94 | 5.99 | 1.45 | 1.20 | 3.13 | 3.49 | |||||||
Georgia | 2.54 | 4.36 | 0.34 | 5.56 | 2.69 | 5.19 | |||||||
Guam | - | - | - | - | - | - | |||||||
Hawaii | - | - | - | 1.06 | - | 1.42 | |||||||
Idaho | 0.01 | 0.01 | - | 0.02 | 0.44 | 1.85 | |||||||
Illinois | 9.43 | 8.85 | 7.80 | 10.18 | 10.56 | 4.23 | |||||||
Indiana | 2.24 | 1.01 | 2.76 | 6.65 | 1.58 | 2.19 | |||||||
Iowa | 0.41 | 0.04 | 0.04 | 0.08 | 0.11 | - | |||||||
Kansas | 0.16 | 0.25 | - | 1.04 | 0.87 | - | |||||||
Kentucky | 1.14 | 1.34 | 3.56 | 3.93 | 2.27 | - | |||||||
Louisiana | 0.66 | 0.72 | 0.22 | 0.06 | 0.26 | 0.32 | |||||||
Maine | - | - | - | - | - | - | |||||||
Maryland | 1.25 | 1.77 | 2.35 | 1.92 | 0.49 | 0.46 | |||||||
Massachusetts | 1.41 | 4.04 | 3.61 | 1.05 | 5.46 | 3.05 | |||||||
Michigan | 3.17 | 2.40 | 2.00 | 1.00 | 1.07 | 1.68 | |||||||
Minnesota | 0.24 | 0.45 | 0.10 | 0.02 | 0.22 | 0.70 | |||||||
Mississippi | 0.02 | 0.12 | 0.01 | 0.09 | 0.02 | 1.25 | |||||||
Missouri | 0.33 | 0.82 | 1.97 | 0.02 | 0.88 | 2.78 | |||||||
Montana | - | - | - | 0.47 | - | - | |||||||
Nebraska | 0.21 | 0.01 | 1.86 | - | - | - | |||||||
Nevada | 0.39 | 0.44 | 0.65 | 1.12 | 0.02 | - | |||||||
New Hampshire | 0.02 | 0.04 | - | - | - | - | |||||||
New Jersey | 6.09 | 5.11 | 4.82 | 9.29 | 5.45 | 0.01 | |||||||
New Mexico | 0.96 | 0.01 | 0.36 | 2.98 | 0.07 | - | |||||||
New York | 9.69 | 8.44 | 5.08 | 8.37 | 6.09 | 34.29 | |||||||
North Carolina | 0.36 | 1.02 | 0.29 | 0.60 | 2.52 | 1.18 | |||||||
North Dakota | - | - | - | - | - | - | |||||||
Ohio | 0.22 | 0.52 | 1.97 | 1.65 | 2.08 | 0.68 | |||||||
Oklahoma | - | - | 2.71 | - | - | - | |||||||
Oregon | 0.93 | 0.70 | 0.23 | 1.11 | 3.39 | 1.71 | |||||||
Pennsylvania | 3.23 | 3.78 | 3.79 | 6.67 | 3.86 | 1.84 | |||||||
Puerto Rico | 0.33 | 0.29 | 0.24 | - | 0.67 | - | |||||||
Rhode Island | 0.22 | 0.22 | - | - | - | - | |||||||
South Carolina | 0.44 | 0.67 | - | 0.35 | 0.19 | 0.96 | |||||||
South Dakota | - | 0.05 | - | - | 0.08 | 0.68 | |||||||
Tennessee | 5.99 | 1.65 | - | 0.56 | 1.81 | - | |||||||
Texas | 9.90 | 9.39 | 19.91 | 7.88 | 7.03 | 10.98 | |||||||
U.S. Virgin Islands | 0.65 | 0.60 | 1.90 | - | 1.22 | - | |||||||
Utah | 0.21 | 0.36 | 0.37 | 0.01 | 2.68 | 0.83 | |||||||
Vermont | 0.01 | 0.13 | - | - | - | 0.01 | |||||||
Virginia | 1.17 | 1.16 | - | 2.64 | 0.19 | 0.38 | |||||||
Washington | 1.47 | 2.02 | 0.20 | 1.43 | 1.66 | 4.37 | |||||||
West Virginia | 0.75 | 0.16 | 0.02 | 0.88 | 0.06 | - | |||||||
Wisconsin | 1.76 | 1.76 | 1.93 | 1.46 | 1.12 | 3.17 | |||||||
Wyoming | 0.53 | 0.18 | - | 0.03 | 0.17 | 1.38 | |||||||
Alternative Minimum Tax Percentage: | 13.82% | % | 9.75 | % | 10.85 | % | 23.11 | % | 13.99 | % | 16.55 | % | |
2019 Legg Mason Tax Guide | 2 |
SECTION 1
In this section you will find information for the Western Asset multi-state funds that have paid income dividends which are tax- exempt for regular Federal income tax purposes. The percentages of income earned by the funds from each state or U.S. Territory are listed below.
See Footnotes after Section 5.
Exempt interest income - Multi-state funds
Western Asset | Western Asset | Western Asset | Western Asset | Western Asset | |||||||
Municipal Defined | |||||||||||
Intermediate | Managed Municipals | Opportunity | Municipal High | Municipal Partners | |||||||
Muni Fund Inc. | Fund Inc. | Trust Inc. | Income Fund Inc. | Fund Inc. | |||||||
(SBI) | (MMU) | (MTT) | (MHF) | (MNP) | |||||||
Alabama | 1.17 | % | 6.27 | % | 6.76 | % | 7.02 | % | 1.73 | % | |
Alaska | 0.05 | 0.03 | 0.03 | - | 0.86 | ||||||
Arizona | 2.11 | 3.55 | 4.59 | 3.72 | 1.62 | ||||||
Arkansas | - | - | - | - | - | ||||||
California | 16.24 | 13.32 | 9.53 | 9.96 | 13.70 | ||||||
Colorado | 5.05 | 9.41 | 4.17 | 4.88 | 5.30 | ||||||
Connecticut | 0.90 | 0.48 | 0.72 | 0.45 | 1.00 | ||||||
Delaware | - | - | 0.18 | 1.44 | 0.24 | ||||||
District of Columbia | 0.10 | 0.38 | 0.10 | 1.65 | 0.42 | ||||||
Florida | 5.21 | 5.80 | 1.09 | 2.34 | 5.31 | ||||||
Georgia | 3.46 | 3.05 | 7.43 | 1.58 | 0.51 | ||||||
Guam | - | - | - | - | - | ||||||
Hawaii | - | 1.01 | - | 0.91 | - | ||||||
Idaho | 0.01 | 0.11 | 0.09 | - | - | ||||||
Illinois | 10.52 | 11.91 | 6.97 | 8.82 | 9.02 | ||||||
Indiana | 5.03 | 2.02 | 1.16 | 1.79 | 1.72 | ||||||
Iowa | 0.05 | 0.04 | 0.04 | - | 0.05 | ||||||
Kansas | - | - | - | - | - | ||||||
Kentucky | 1.29 | 1.10 | 0.93 | 2.77 | 0.51 | ||||||
Louisiana | 3.15 | 0.83 | 0.19 | 0.43 | 1.04 | ||||||
Maine | - | - | - | - | - | ||||||
Maryland | 0.07 | 0.06 | 0.55 | 2.64 | 0.47 | ||||||
Massachusetts | 0.91 | 3.26 | 0.80 | 1.96 | 2.17 | ||||||
Michigan | 2.29 | 3.07 | 3.07 | 1.52 | 1.94 | ||||||
Minnesota | 0.01 | 0.17 | 0.01 | 0.01 | - | ||||||
Mississippi | 0.01 | 0.01 | 0.09 | 0.01 | 0.02 | ||||||
Missouri | 0.47 | 0.99 | 0.34 | 2.73 | 0.64 | ||||||
Montana | - | - | - | - | - | ||||||
Nebraska | 0.29 | - | - | 2.21 | - | ||||||
Nevada | 1.79 | 0.19 | - | 0.53 | - | ||||||
New Hampshire | - | - | - | - | - | ||||||
New Jersey | 7.44 | 4.91 | 17.93 | 5.70 | 8.38 | ||||||
New Mexico | - | - | - | 0.04 | - | ||||||
New York | 8.02 | 7.89 | 14.08 | 2.29 | 14.08 | ||||||
North Carolina | 0.40 | 0.59 | 0.59 | 0.32 | 2.61 | ||||||
North Dakota | - | - | - | - | - | ||||||
Ohio | 0.28 | 1.40 | 0.04 | 0.44 | 2.13 | ||||||
Oklahoma | 1.06 | 0.06 | 0.01 | 1.04 | 1.08 | ||||||
Oregon | 0.96 | 0.21 | 0.20 | 0.71 | 0.72 | ||||||
Pennsylvania | 1.98 | 2.54 | 3.95 | 5.25 | 5.87 | ||||||
Puerto Rico | 0.33 | 0.28 | 0.25 | 0.10 | 0.30 | ||||||
Rhode Island | - | 0.50 | 2.33 | - | - | ||||||
South Carolina | 0.22 | 0.57 | 0.16 | - | 0.20 | ||||||
South Dakota | - | 0.05 | - | - | 0.08 | ||||||
Tennessee | 5.87 | 0.43 | - | - | 2.73 | ||||||
Texas | 5.66 | 9.64 | 5.86 | 18.19 | 7.64 | ||||||
U.S. Virgin Islands | 0.78 | 0.56 | 1.11 | 2.15 | 0.64 | ||||||
Utah | 0.16 | 0.79 | 0.90 | 0.50 | 0.13 | ||||||
Vermont | 0.01 | - | - | - | - | ||||||
Virginia | 2.58 | 1.05 | 0.97 | 2.42 | 0.32 | ||||||
Washington | 0.51 | 0.67 | 0.86 | 0.03 | 1.24 | ||||||
West Virginia | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 | ||||||
Wisconsin | 3.52 | 0.78 | 1.89 | 1.42 | 3.54 | ||||||
Wyoming | 0.01 | - | 0.01 | 0.01 | 0.01 | ||||||
Alternative Minimum Tax Percentage: | 18.60 | % | 15.92 | % | 11.71 | % | 15.02 | % | 13.11 | % | |
2018 Legg Mason Tax Guide | 3 |
SECTION 2
In this section you will find information for the Western Asset single state funds that have paid income dividends which are tax-exempt for regular Federal income tax purposes.
See Footnotes after Section 5.
Exempt interest income - Single state funds | |||||||||
Percentage of | |||||||||
income from | |||||||||
Percentage of | obligations of | Percentage of | |||||||
income from | Puerto Rico, U.S. | income from | Alternative | ||||||
Specified state | obligations exempt | Virgin Islands and | obligations | Minimum Tax | |||||
Fund Name | in specified state | Guam | of other states | Percentage | |||||
Western Asset California Municipals Fund | California | 97.90 | % | 1.75 | % | 0.35 | % | 6.12 | % |
Western Asset Intermediate Maturity California Municipals Fund | California | 97.19 | 1.99 | 0.82 | 6.47 | ||||
Western Asset Intermediate Maturity New York Municipals Fund | New York | 97.25 | 2.43 | 0.32 | 14.68 | ||||
Western Asset Massachusetts Municipals Fund | Massachusetts | 98.29 | 1.13 | 0.58 | 0.66 | ||||
Western Asset New Jersey Municipals Fund | New Jersey | 98.59 | 1.16 | 0.25 | 14.97 | ||||
Western Asset New York Municipals Fund | New York | 96.92 | 2.84 | 0.24 | 11.27 | ||||
Western Asset New York Tax Free Money Market Fund | New York | 100.00 | - | - | 19.16 | ||||
Western Asset Oregon Municipals Fund | Oregon | 97.89 | 1.27 | 0.84 | 5.51 | ||||
Western Asset Pennsylvania Municipals Fund | Pennsylvania | 98.86 | 1.01 | 0.13 | 3.82 | ||||
2018 Legg Mason Tax Guide | 4 |
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Western Asset Investment Grade Income Fund Inc. published this content on 29 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2021 18:33:04 UTC.