Tax percentages

Alternative Minimum Tax (AMT)

Tax laws give special treatment to certain kinds of income and allow special deductions and credits for certain expenses. Taxpayers who benefit from these laws are also subject to an additional tax, the Alternative Minimum Tax (AMT). AMT income is calculated using the taxpayer's taxable income with certain adjustments and is increased by the amount of any tax preference items. The tax-exempt interest from certain private activity bonds (AMT bonds) is one of these tax preference items. Putnam provides shareholders of tax exempt funds the income earned which was derived from AMT bonds on the 1099-INT. A shareholder should consult with his/her tax advisor to determine if he/she is subject to this tax.

The column labeled "AMT %" details the percent of the funds' income earned from AMT bonds. This information appears as a dollar amount on the 1099-INT and can calculated by multiplying Column 8 by the AMT percentage given.
2008 Alternative Minimum Tax Percentages (AMT%)
(1099-INT)
Calculation:
1099 INT Column 8 x Fund's % = 1099 INT Column 9
Name of Fund Fund Code AMT %
AMT-FREE MUN-A00390.00%
AMT-FREE MUN-B02390.00%
AMT-FREE MUN-C04390.00%
AMT-FREE MUN-M06390.00%
AMT-FREE MUN-Y18390.00%
AZ TAX EX INC-A00349.73%
AZ TAX EX INC-B02349.73%
AZ TAX EX INC-C04349.73%
AZ TAX EX INC-M06349.73%
AZ TAX EX INC-Y18349.73%
CA TAX EX INC-A00152.33%
CA TAX EX INC-B02152.33%
CA TAX EX INC-C04152.33%
CA TAX EX INC-M06152.33%
CA TAX EX INC-Y18152.33%
HIGH YIELD MUNI580218.89%
INV GRADE MUNI TR580311.36%
MA TAX EX INC-A00259.05%
MA TAX EX INC-B02259.05%
MA TAX EX INC-C04259.05%
MA TAX EX INC-M06259.05%
MA TAX EX INC-Y18259.05%
MANAGED MUNI INC580123.63%
MI TAX EX INC-A002611.57%
MI TAX EX INC-B022611.57%
MI TAX EX INC-C042611.57%
MI TAX EX INC-M062611.57%
MI TAX EX INC-Y182611.57%
MN TAX EX INC-A002710.09%
MN TAX EX INC-B022710.09%
MN TAX EX INC-C042710.09%
MN TAX EX INC-M062710.09%
MN TAX EX INC-Y182710.09%
MUNI BOND FUND581014.22%
MUNI OPPORTUNITY581414.82%
NJ TAX EX INC-A00293.60%
NJ TAX EX INC-B02293.60%
NJ TAX EX INC-C04293.60%
NJ TAX EX INC-M06293.60%
NJ TAX EX INC-Y18293.60%
NY TAX EX INC-A00166.55%
NY TAX EX INC-B02166.55%
NY TAX EX INC-C04166.55%
NY TAX EX INC-M06166.55%
NY TAX EX INC-Y18166.55%
OH TAX EX INC-A00284.77%
OH TAX EX INC-B02284.77%
OH TAX EX INC-C04284.77%
OH TAX EX INC-M06284.77%
OH TAX EX INC-Y18284.77%
PA TAX EX INC-A00248.28%
PA TAX EX INC-B02248.28%
PA TAX EX INC-C04248.28%
PA TAX EX INC-M06248.28%
PA TAX EX INC-Y18248.28%
TAX EX MNY MKT00210.00%
TAX EXMPT INC-A000914.85%
TAX EXMPT INC-B020914.85%
TAX EXMPT INC-C040914.85%
TAX EXMPT INC-M060914.85%
TAX EXMPT INC-Y180914.85%
TAX-FREE HI YLD-A004015.77%
TAX-FREE HI YLD-B024015.77%
TAX-FREE HI YLD-C044015.77%
TAX-FREE HI YLD-M064015.77%
TAX-FREE HI YLD-Y184015.77%


None of the information in this Web site should be considered legal or tax advice. You should consult your legal or tax advisor for information concerning your own specific tax situation. The forms and numbers shown in this Web site are for illustrative purposes only.