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State and local tax treatment Obligations and/or in california or its municipal obligations, that amount of dividend is exempt from california tax. t. A portion of these dividends may be exempt from state and/or local tax, depending on where the return is filed
Therefore, if you earned $1,000 in total interest from vmfxx in 2024, then $598.70 could possibly be exempt from state and local income taxes Based on this from the ftb If your marginal state income tax rate was 10% that would be a ~$60 tax savings for every $1,000 in total interest earned.
My vanguard consolidated 1099 shows the vmfxx state tax exempt portion on the final page in the 2024 end notes
It says for the vanguard settlement fund (9999100), the u.s Government obligation percentage is 59.87%. My understanding is that dividends earned from both funds are 100% tax exempt at the federal level and that vmrxx is exempt from 50% of state taxes, provided your state has income taxes I'm having a hard time getting solid information though about vmfxx and state taxes.
Hi, i am looking at dividends from the vanguard federal mm fund (vmfxx)
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