Putnam Tax Freedom
Content
Lower your taxes
Investor Education
Putnam’s municipal bond funds can help bring Tax Freedom Day a little closer Tax Freedom Day Americans work a significant number of days each year to pay for things other than government, but nothing else is as expensive. In 2011, Tax Freedom Day fell on April 12 — 102 days into the year. This means that Americans needed to work for more than three months of the year before they had earned enough to pay their taxes to federal, state, and local governments.
DAYS WORKED TO PAY TAXES PRIOR TO TAX FREEDOM DAY PER STATE (calendar year 2011) Days spent working to pay taxes
Tax Freedom Day
State
Mississippi
85
March 26
Colorado
98
April 8
Tennessee
86
March 27
Oregon
98
April 8
South Carolina
88
March 29
New Hampshire
99
April 9
Louisiana
89
March 30
Delaware
100
April 10
South Dakota
89
March 30
Kansas
100
April 10
New Mexico
90
March 31
Utah
100
April 10
West Virginia
90
March 31
Vermont
100
April 10
Alabama
92
April 2
Florida
101
April 11
Arizona
92
April 2
North Dakota
101
April 11
Kentucky
92
April 2
United States
102
April 12
Nevada
92
April 2
Nebraska
102
April 12
Oklahoma
92
April 2
Virginia
102
April 12
Alaska
93
April 3
Rhode Island
103
April 13
Arkansas
93
April 3
Wyoming
103
April 13
Georgia Idaho
93 93
April 3 April 3
Massachusetts Pennsylvania
104 104
April 14 April 14
Maine
94
April 4
Illinois
105
April 15
Missouri
94
April 4
California
106
April 16
Indiana
95
April 5
Minnesota
106
April 16
Montana
95
April 5
Washington
106
April 16
Hawaii
96
April 6
Wisconsin
106
April 16
Iowa
96
April 6
District of Columbia
106
April 16
North Carolina
96
April 6
Maryland
107
April 17
Ohio
96
April 6
New York
114
April 24
Michigan
97
April 7
New Jersey
119
April 29
Texas
97
April 7
Connecticut
122
May 2
State
Days spent working to pay taxes
Note: Leap day is omitted. Source: Tax Foundat Foundation ion calculat calculations ions based on data from the Departme Department nt of of Commerce Commerce and Bureau of Economic Analysis. Visit www.taxfoundation.org/taxfreedomday www.taxfoundation.org/taxfreedomday for for more information.
Tax Freedom Day
Putnam tax-free municipal bond funds By investing your assets in a combination of one or more tax-exempt municipal bond funds, you can help limit the
Putnam Tax-Exempt Funds Putnam AMT-Free Municipal Fund
amount of money you pay to the government each year.
Putnam Tax Exempt Income Fund
Tax-free municipal bond funds generate a dependable
Putnam Tax Exempt Money Market Fund*
source of income that is not subject to income taxes, so
Putnam Tax-Free High Yield Fund
more of your money stays with you and not the govern-
Putnam Arizona Tax Exempt Income Fund
ment. Putnam offers a range of single-state and federal Putnam California Tax Exempt Income Fund
tax-exempt fund options. Our objective is to pursue current income, while maintaining a relatively stable value through
Putnam Massachusetts Tax Exempt Income Fund
changing market conditions.
Putnam Michigan Tax Exempt Income Fund Putnam Minnesota Tax Exempt Income Fund Putnam New Jersey Tax Exempt Income Fund Putnam New York Tax Exempt Income Fund Putnam Ohio Tax Exempt Income Fund Putnam Pennsylvania Tax Exempt Income Fund
Consider these risks before investing:
Mutual funds that invest in bonds are subject to certain risks including interest-rate risk, risk, credit risk, and and inflation risk. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest-rate risk than short-term bonds. Unlike bonds, bond funds have ongoing fees and expenses. For some investors, investment income may be subject to the federal alternative minimum tax. Income from federally exempt funds may be subject to state and local taxes.
* Money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency. Although the fund seeks to preserve the th e value of your investment at $1.00 per share, it is possible to lose money by investing in this fund.
Investors should should carefully carefully consider the investment investment objectives, objectives, risks, charges, and expenses expenses of a fund before before investing. investing. For a prospectus, or a summary prospectus if available, containing this and other information for any Putnam fund or product, call your financial representative or call Putnam at 1-800-225-1581. Please read the prospectus carefully before investing.
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