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Home > Education and Planning > Tax Center TAX Center 2007 Interest Earned on U.S. Government Obligations Most states exempt interest earned on direct obligations of the federal government from state and local taxes. However, exemption requirements vary from state to state. We recommend that you seek advice from a qualified tax professional to determine what exemption is appropriate in your state. The total of dividends and short-term capital gains earned in 2007 can be found on Form 1099-DIV in box 1a, Ordinary Dividends. Using the chart below, shareholders can multiply the percentage of the income they received that was derived from government securities exempt in their state by the total amount reported in box 1a on Form 1099-DIV. The percentage may not be applied to any capital gain distributions received by you. Percentage of Income from Federal Obligations and Selected Agencies (As of 12/31/07)   Direct Obligations Agency Obligations   Other Information   Direct U.S. Government Obligations Federal Farm Credit Bank Federal Home Loan Bank Student Loan Marketing Association Total U.S. Government Agency Obligations Total Direct U.S. Government and Agency Obligations Federal Home Loan Mortgage Corp. Federal National Mortgage Assoc. Government National Mortgage Association  Single Manager Funds AXA Enterprise Governmment Securities Fund --- --- --- --- 0.00% 0.00% 21.83% 29.17% 34.87% AXA Enterprise Money Market Fund --- 0.27% 1.72% --- 1.99% 1.99% --- 0.07% --- AXA Enterprise Short Duration Bond Fund 8.02% --- 2.26% --- 2.26% 10.28% 4.83% 17.25% ---  Multiple Manager Funds AXA Enterprise Multimanager Core Bond Fund 4.22% --- 2.74% --- 2.74% 6.96% 7.13% 37.95% 3.92% AXA Enterprise Multimanager Core Equity Fund --- --- 0.02% --- 0.02% 0.02% --- --- --- AXA Enterprise Multimanager Value --- --- 0.004% --- 0.00% 0.004% --- 0.001% ---

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