Reich & Tang Daily Income Fund
On November 19, 2007 the Daily Tax Free Income Fund-Thornburg Class merged into the Reich & Tang Daily Income Fund.
State-by-State Breakdown
Below is a table showing the percentage breakdown by state or U.S. possession of the income earned by Reich & Tang Daily Income Fund, (the “Fund”) for those states or possessions in which the Fund had investments at any time during 2007.
The Fund did not declare capital gain distributions during 2007.
Reporting Requirements for your 2007 Federal Return: Individuals
Your dividends from the Fund must be reported on your 2007 return. These dividends are not subject to regular federal income tax. A portion of this income, as shown below, may be treated as a preference item for the purpose of the alternative minimum tax on certain individuals and on corporations. Shareholders are advised to consult their own tax advisors as to the extent and effect of such treatment.
| Jan | Feb | Mar | Apr | May | June | July | Aug | Sep | Oct | Nov(1) 1-18 |
Nov(1) 19-30 |
Dec | Avg 07 | |
| Municipal Income | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 53.62% | 53.62% | 92.27% |
| Municipal Preference Income | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 46.38% | 46.38% | 7.73% |
| Total Municipal Income | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
Remember: State and local taxes vary, and we suggest that you contact your tax advisor for information on those taxes. (1) The November percentages reflected in the table above are shown in two columns, both pre-merger and post-merger dates.
Special Requirements for Corporations
Interest on all tax-exempt investments owned by a corporation, including income dividends on shares of the Fund, will be included in the corporation’s adjusted net book income for purposes of calculating the alternative minimum taxable income of such corporations.
| Jan. | Feb. | Mar. | Apr. | May | June | July | Aug. | Sept. | Oct. | Nov.* | Dec. | Avg 07 |
|
| Alabama | 4.83% | 2.05% | 0.87% | 0.97% | 1.32% | 1.42% | 0.92% | 0.00% | 0.00% | 3.23% | 3.69% | 2.42% | 1.81% |
| Alaska | 0.86% | 0.86% | 3.04% | 1.39% | 1.43% | 1.54% | 0.88% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.85% |
| Arizona | 3.39% | 3.41% | 3.00% | 1.67% | 2.39% | 2.34% | 1.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.53% | 1.51% |
| Arkansas | 1.47% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% | 0.28% | 0.19% |
| California | 3.07% | 3.09% | 3.39% | 3.61% | 4.74% | 5.34% | 6.45% | 9.39% | 10.87% | 11.14% | 7.43% | 1.76% | 5.86% |
| Colorado | 0.82% | 0.83% | 0.90% | 1.00% | 1.37% | 3.18% | 6.15% | 4.16% | 0.00% | 0.00% | 0.46% | 4.42% | 1.94% |
| Connecticut | 1.98% | 3.08% | 0.89% | 2.66% | 3.25% | 3.40% | 1.25% | 1.31% | 3.60% | 3.62% | 3.44% | 5.02% | 2.79% |
| Delaware | 0.00% | 0.56% | 2.12% | 2.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.33% | 0.71% | 0.48% |
| D.C. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.80% | 0.23% | 0.09% |
| Florida | 13.76% | 17.61% | 18.52% | 17.97% | 18.93% | 16.60% | 17.86% | 10.54% | 10.60% | 15.03% | 14.05% | 11.91% | 15.28% |
| Georgia | 1.31% | 1.31% | 0.65% | 0.60% | 0.81% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.61% | 1.53% | 0.60% |
| Hawaii | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Illinois | 3.76% | 1.62% | 1.48% | 1.69% | 0.76% | 0.00% | 0.00% | 0.00% | 1.82% | 5.10% | 5.03% | 6.28% | 2.29% |
| Indiana | 2.19% | 2.20% | 2.42% | 3.41% | 1.78% | 1.93% | 2.27% | 1.81% | 0.44% | 0.00% | 0.52% | 1.11% | 1.67% |
| Iowa | 0.08% | 0.00% | 0.00% | 1.12% | 1.67% | 1.81% | 2.11% | 3.18% | 3.85% | 3.78% | 2.95% | 1.38% | 1.83% |
| Kansas | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.35% | 0.07% |
| Kentucky | 1.24% | 1.21% | 1.33% | 1.47% | 2.01% | 2.18% | 2.20% | 1.20% | 0.00% | 0.00% | 0.91% | 1.98% | 1.31% |
| Louisiana | 1.30% | 0.00% | 0.00% | 0.00% | 0.81% | 0.13% | 0.00% | 0.00% | 0.75% | 0.15% | 1.75% | 0.77% | 0.47% |
| Maine | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.10% | 0.02% |
| Maryland | 2.45% | 2.44% | 2.66% | 2.90% | 3.96% | 4.32% | 5.13% | 6.16% | 6.17% | 6.23% | 4.67% | 3.54% | 4.22% |
| Massachusetts | 1.11% | 1.01% | 0.74% | 1.41% | 1.91% | 1.47% | 1.26% | 0.48% | 0.00% | 0.50% | 2.64% | 0.05% | 1.05% |
| Michigan | 2.83% | 2.71% | 2.05% | 1.94% | 2.62% | 2.84% | 3.37% | 2.62% | 1.82% | 1.78% | 2.72% | 3.68% | 2.58% |
| Minnesota | 6.14% | 6.21% | 6.03% | 5.94% | 2.87% | 2.34% | 2.82% | 4.10% | 3.74% | 0.00% | 1.10% | 3.30% | 3.72% |
| Mississippi | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.12% | 0.00% | 0.24% | 1.74% | 0.42% | 0.21% |
| Missouri | 0.91% | 0.16% | 0.10% | 0.89% | 0.00% | 0.00% | 0.00% | 0.24% | 0.00% | 0.00% | 1.19% | 2.06% | 0.46% |
| Montana | 0.60% | 0.02% | 0.12% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.07% |
| Nebraska | 0.00% | 0.03% | 0.80% | 0.69% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.49% | 0.95% | 0.32% |
| Nevada | 0.09% | 0.00% | 0.00% | 1.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.16% | 1.89% | 0.43% |
| New Mexico | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.05% | 0.01% |
| New Jersey | 2.72% | 2.12% | 1.99% | 0.80% | 0.00% | 0.78% | 1.15% | 0.96% | 0.09% | 0.00% | 0.53% | 0.34% | 0.96% |
| New York | 0.71% | 1.42% | 0.70% | 2.86% | 2.71% | 2.95% | 1.33% | 2.13% | 8.82% | 13.83% | 10.88% | 6.00% | 4.53% |
| N. Carolina | 0.27% | 2.14% | 1.07% | 1.40% | 1.34% | 0.97% | 0.69% | 0.00% | 3.33% | 5.58% | 3.88% | 2.14% | 1.90% |
| N. Dakota | 0.00% | 0.00% | 0.00% | 0.54% | 1.13% | 1.22% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.30% |
| Ohio | 6.66% | 6.68% | 5.25% | 4.78% | 4.56% | 4.99% | 4.11% | 3.77% | 3.48% | 1.87% | 3.20% | 4.62% | 4.50% |
| Oklahoma | 0.46% | 0.46% | 1.80% | 1.97% | 1.15% | 0.97% | 1.05% | 0.39% | 0.00% | 0.11% | 0.71% | 1.24% | 0.86% |
| Oregon | 0.79% | 0.80% | 0.87% | 0.97% | 1.32% | 1.42% | 1.68% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.76% |
| Pennsylvania | 4.23% | 4.28% | 4.62% | 2.92% | 1.36% | 1.17% | 0.88% | 1.87% | 4.03% | 5.73% | 5.36% | 4.44% | 3.41% |
| Puerto Rico | 0.68% | 0.68% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.67% | 1.32% | 0.30% |
| Rhode Island | 1.33% | 1.32% | 1.46% | 1.62% | 2.17% | 1.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.82% |
| S. Carolina | 1.83% | 1.83% | 1.49% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.65% | 3.57% | 0.91% |
| S. Dakota | 0.16% | 1.15% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.16% |
| Tennessee | 0.55% | 0.56% | 1.86% | 1.25% | 0.91% | 0.99% | 1.16% | 0.85% | 0.00% | 0.00% | 0.62% | 1.32% | 0.84% |
| Texas | 5.73% | 5.40% | 4.69% | 4.37% | 2.91% | 0.46% | 0.66% | 2.67% | 2.76% | 2.91% | 4.37% | 5.69% | 3.55% |
| Utah | 0.70% | 0.93% | 0.76% | 1.27% | 1.22% | 1.17% | 1.40% | 2.03% | 2.33% | 2.37% | 1.87% | 1.08% | 1.43% |
| Vermont | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.08% | 2.40% | 0.29% |
| Virginia | 2.50% | 2.34% | 2.29% | 1.00% | 0.04% | 0.05% | 0.03% | 0.08% | 0.36% | 0.36% | 0.41% | 0.15% | 0.80% |
| Washington | 2.04% | 1.67% | 2.06% | 2.04% | 2.60% | 2.68% | 1.73% | 1.84% | 5.12% | 5.08% | 0.92% | 1.96% | 2.48% |
| West Virgina | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Wisconsin | 13.23% | 13.31% | 14.73% | 15.68% | 20.57% | 23.18% | 26.46% | 35.28% | 25.90% | 11.62% | 2.81% | 2.82% | 17.13% |
| Wyoming | 0.00% | 0.57% | 1.71% | 0.79% | 0.86% | 0.03% | 0.00% | 0.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.35% |
| Non State Tax Exempt | 0.85% | 1.54% | 0.80% | 0.67% | 1.65% | 3.83% | 2.83% | 1.11% | 0.12% | 0.00% | 2.05% | 4.19% | 1.59% |
| Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
* Note: The November income percentage by state includes income from November 1, 2007 through November 18, 2007 derived from the Daily Tax Free Income Fund – Thornburg Class and income from November 19, 2007 through November 30, 2007 derived from Reich & Tang Daily Income Fund.
Investments in the fund are not FDIC insured, nor are they deposits of or guaranteed by a bank or any other entity. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Carefully consider the Fund’s investment objectives, risks, sales charges, and expenses; these are found in the prospectus, which is available from your financial advisor or from our download library. Read it carefully before you invest or send money.
