State Tax Exclusions for U.S. Government Income Worksheet - American Funds | Capital Group
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State Tax Exclusions for U.S. Government Income Worksheet - American Funds

The American Funds listed below distributed income from U.S. government obligations. Some of the ordinary dividends paid by these funds may be excluded from state income tax.

States and Jurisdictions Allowing Exclusions

To the best of our knowledge, the states and jurisdictions listed below allow individual shareholders to exclude from their state taxable income the portion of mutual fund dividends derived from interest on certain U.S. government obligations. The state tax exclusion may not apply to corporations and other entities. States without individual income tax are not listed.

  • Alabama
  • Arizona
  • Arkansas
  • California*
  • Colorado
  • Connecticut*
  • Delaware
  • District of Columbia
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York*
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Utah
  • Vermont
  • Virginia
  • West Virginia
  • Wisconsin

2019 Worksheet Instructions

  1. An individual taxpayer filing an income tax return in one of the states or jurisdictions listed above (except California, Connecticut and New York), who owns shares of any of the below American Funds, should complete this worksheet. Corporations and other entities should consult their tax advisors.
  2. For each fund and share class owned, enter the Total Ordinary Dividends reported in Box 1a of Form 1099-DIV next to the fund’s name in the worksheet.

What You Will Need

Shareholders Filing Returns in California, Connecticut and New York

The percentage of the dividends paid by American Funds Inflation Linked Bond Fund, American Funds U.S. Government Money Market Fund, and US Government Securities Fund as disclosed in the table qualifies for the exclusion. No other funds’ dividends qualified.

American Funds With U.S. Government Income in 2019 Total Ordinary Dividends
AMCAP Fund® $
American Balanced Fund® $
American Funds 2060 Target Date Retirement Fund®*** $
American Funds 2055 Target Date Retirement Fund®*** $
American Funds 2050 Target Date Retirement Fund®*** $
American Funds 2045 Target Date Retirement Fund®*** $
American Funds 2040 Target Date Retirement Fund®*** $
American Funds 2035 Target Date Retirement Fund®*** $
American Funds 2030 Target Date Retirement Fund®*** $
American Funds 2025 Target Date Retirement Fund®*** $
American Funds 2020 Target Date Retirement Fund®*** $
American Funds 2015 Target Date Retirement Fund®*** $
American Funds 2010 Target Date Retirement Fund®*** $
American Funds Conservative Growth and Income PortfolioSM $
American Funds Corporate Bond Fund® $
American Funds Emerging Markets Bond Fund® $
American Funds Global Balanced FundSM $
American Funds Global Growth PortfolioSM *** $
American Funds Global Insight FundSM $
American Funds Growth and Income PortfolioSM *** $
American Funds Growth PortfolioSM $
American Funds Inflation Linked Bond Fund®* $
American Funds International Vantage FundSM $
American Funds Moderate Growth and Income PortfolioSM *** $
American Funds Mortgage Fund® $
American Funds Preservation PortfolioSM $
American Funds Retirement Income Portfolio — ConservativeSM $
American Funds Retirement Income Portfolio — EnhancedSM $
American Funds Retirement Income Portfolio — ModerateSM $
American Funds Strategic Bond FundSM $
American Funds Tax-Aware Conservative Growth and Income PortfolioSM **and*** $
American Funds U.S. Government Money Market FundSM * $
American High-Income Trust® $
American Mutual Fund® $
The Bond Fund of America® $
Capital Income Builder® $
Capital World Bond Fund® $
Capital World Growth and Income Fund®*** $
EuroPacific Growth Fund® $
Fundamental Investors® $
The Growth Fund of America® $
The Income Fund of America® $
Intermediate Bond Fund of America® $
International Growth and Income FundSM $
The Investment Company of America® $
The New Economy Fund®*** $
New Perspective Fund® $
New World Fund® $
Short-Term Bond Fund of America® $
U.S. Government Securities Fund®* $
Washington Mutual Investors FundSM $

*Shareholders Filing Returns in California, Connecticut and New York: The percentage of the dividends paid by American Funds Inflation Linked Bond Fund, American Fund U.S. Government Money Market Fund, and US Government Securities Fund as disclosed in the table qualifies for the exclusion. No other funds’ dividends qualified.

**American Funds Tax-Advantaged Growth and Income PortfolioSM has been renamed, effective 1/1/20, to American Funds Tax-Aware Conservative Growth and Income PortfolioSM.

***The US Government factors for these funds were updated on 1/28/2020. The update resulted in modestly higher US Government factors.

To determine your individual tax situation, please consult your tax advisor.

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