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Zecco.com » General Investing » Tax Matters » Scudder Tax Exempt Money Market Fun...
Last post 04-07-2009, 4:00 PM by lucasjkr. 2 replies.
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  •  04-01-2009, 2:38 PM 53281

    Scudder Tax Exempt Money Market Fund (CHSXX) - Exempt from State Taxes

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    The Scudder Tax Exempt Money Market Fund (CHSXX) dividends are exempt from federal taxes.  How about state taxes?  According to the prospectus (https://www.dws-investments.com/EN/docs/fund-literature/prospectus/cat.pdf), the fund invests in "...short-term municipal obligations...normally invests at least 80% of its net assets in municipal securities...."

    There's very little information about the fund on the web.  How can I determine how much, if any, of the dividends are state-tax fee? for Maryland?

    Thanks in advance,

    Leo

  •  04-07-2009, 12:36 PM 53723 in reply to 53281

    Re: Scudder Tax Exempt Money Market Fund (CHSXX) - Exempt from State Taxes

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    I'd go to the maryland.gov and look it up there. I would assume that tax free at the federal level would also be at the state level, but we don't have income tax here so I wouldn't know. We're grateful if we get to deduct any of our sales tax in any given year.

    If it's not there, there's probably a way of asking, and it probably ought to be added to a FAQ.

  •  04-07-2009, 4:00 PM 53744 in reply to 53723

    Re: Scudder Tax Exempt Money Market Fund (CHSXX) - Exempt from State Taxes

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    Thankfully, I'm in a state with no income tax as well.

    But just as interest paid from US Treasuries is not taxable by the states, the Federal government is not allowed to tax interest paid by states. Generally the home state won't tax it's own obligations. BUT, just because a municapal is tax free by its own state and by the federal government, another state may choose to tax it if a resident of from that state owns a municipal issued by another state.

    I'd check with the prospetus, the fund manager, or your accountant.
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