Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out

Blackrock Funds

VIEWS: 127 PAGES: 4

Blackrock Funds document sample

More Info
									                                                      www.blackrock.com




2008
Important Tax
Information
for Open-End Funds
This Booklet is a summary of useful tax information for certain Open-End mutual
funds. It will assist you, as an investor, in the preparation of your 2008 Federal
and state income tax returns.
We recommend that you consult your tax adviser for assistance with how this
information will impact your specific tax situation.




                                                                     BLK2008
                                                                Multi-State Municipal Funds
The information below summarizes the percentage of exempt interest income received by various BlackRock Open-End Funds on a state-by-state
basis. These percentages may be useful in completing your state tax return. In addition, the percentage of income that represents a tax preference
item (relating to tax-exempt interest income from private activity bonds) for Federal Alternative Minimum Tax purposes is included for each Fund.
Shareholders are urged to consult their tax adviser concerning the application of this information.

   Percentage of Exempt Interest




                                                                          d
                                                                       un
                                                                        n
                                                                      io
   Income Derived by State




                                                                    lF
                                                                   lio




                                                                   lio
                                                                   at




                                                                                                                                    d erm
                                                               pa
                                                                fo




                                                              tfo
                                               Po s lloc




                                                       t P al
                                                                 l
                                                      d ld
                                                       d ee




                                                             pa
                                                             rt




                                                    ke cip




                                                       d l
                                                            ici
                                                   un Yie




                                                           or




                                                    un na




                                                                                                                                  un -T
                                                   on Fr
                                                          Po




                                                   nd ici




                                                                                                                                                          nd
                                          s N re d A




                                                                                                                                                 Ex MA pt
                                                        un
                                                        lio




                                                 ar ni




                                                l F tio




                                                                                                                               l F ort
                                               l B T-




                                                      un




                                                                                                                                               x- C m

                                                                                                                                                        Fu
                                                lF h




                                              M u
                                      rie ha on




                                                      M
                                                     fo



                                             pa ig
                                             pa M




                                             pa a




                                                                                                                                             Ta /W Exe
                                           ey k M




                                                                                                                             pa h
                                           re k M




                                          ici k N
                                                   rt




                                                                                                                                                     pt
                                         ici k H




                                                  te
                                   Se et S k B
                                         ici k A




                                                                                                                          ici k S
                                               Fu




                                                                                                                                                   em
                                               ia




                                                                                                                                               nd x-
                                       on oc
                                        rm k




                                       su oc




                                      un oc




                                                                                                                       un oc
                                     un oc
                                     un oc




                                      rg oc




                                     te oc
                                             ed




                                                                                                                                             Fu Ta
                                             d




                                    M kR
                                           kR




                                    M kR




                                                                                                                      M kR
                                         kR
                                   M kR




                                   Ta kR




                                   In kR




                                                                                                                                                A
                                       ac
   State/Jurisdiction




                                       ac




                                      ac




                                                                                                                        ac
                                      ac
                                      ac




                                      ac




                                                                                                                                             CM
                                     ac




                                    Bl
                                    Bl
                                    In




                                    Bl




                                                                                                                      Bl
                                   Bl
                                   Bl




                                   Bl




                                   Bl
                                   M
   Alabama                        1.31       1.26        0.73         0.28       3.44        1.13         0.90        2.57                  1.61
   Alaska                           —          —         0.48         0.86       0.01        0.04         0.09        0.02                  0.59
   Arizona                        0.64       3.07        6.94         4.09       0.08        2.08         3.06        2.60                  1.46
   Arkansas                       0.14         —         0.01           —        0.35        0.57         0.12        0.02                  0.30
   California                    16.01       6.03        4.16        16.50      17.91        2.31        17.02        2.27                  4.32
   Colorado                       0.29       0.13        1.82         2.98       2.84        4.51         2.34        1.35                  3.47
   Connecticut                    0.03       2.13        1.43         1.28       0.10        0.46         1.66        0.05                  0.31
   Delaware                       0.04         —           —            —          —         0.66         0.02        2.18                  1.07
   Dist. of Columbia              0.24         —         0.02           —        0.86        0.51         0.12        1.64                  0.93
   Florida                       15.39      21.97        8.59         8.41       6.40       11.52        10.19       10.00                  6.65
   Georgia                        4.13       1.41        3.22         1.56       5.38        3.16         2.51        3.12                  1.67
   Guam                             —          —           —            —          —           —            —           —                     —
   Hawaii                           —          —         0.01           —        0.01          —          0.01        0.01                  0.07
   Idaho                            —       10.13          —          2.69         —         0.25         0.01        0.01                  0.34
   Illinois                       4.28         —         2.93         7.71       2.65        3.60         6.83        1.83                  5.95
   Indiana                         0.64        —         4.38         1.95       0.10        2.17         0.39        2.22                  3.83
   Iowa                            0.07        —         0.57           —        0.02        0.50         0.64        0.03                  0.58
   Kansas                          0.08        —         3.51           —        0.67          —          0.37        0.01                  0.57
   Kentucky                        0.14      0.78        0.50         1.03       0.03        0.37         0.09        0.06                  1.65
   Louisiana                       2.58      8.57        2.42         0.58       1.11        0.90         2.21        0.92                  1.99
   Maine                             —         —         0.82           —        0.01        0.39         0.01        0.01                  0.18
   Maryland                        1.26        —         4.16         1.15       2.66        2.93         0.40        0.43                  1.22
   Massachusetts                   2.08        —         2.50         5.89       3.74        1.92         1.68        2.48                  2.43
   Michigan                        0.84      8.47        1.10         1.00       2.50        7.44         2.18        3.52                  4.99
   Minnesota                       0.23        —         0.02         1.41       2.07        0.90         0.59        1.72                  1.09
   Mississippi                     0.23        —         0.41         0.67       1.73        0.56         0.38        0.05                  1.76
   Missouri                        0.22        —         0.74         0.01       2.33        1.09         0.58        0.79                  0.48
   Montana                         0.02        —           —          0.03         —           —          0.61          —                   0.17
   Nebraska                        0.39        —         0.01         1.38       0.42          —          0.02        0.59                  1.25
   Nevada                          3.09      2.33        1.34           —        0.44        0.38         2.73        3.75                  0.51
   New Hampshire                     —         —         2.19           —        0.01        0.59         0.22        0.02                  0.38
   New Jersey                      7.01      3.61        6.65         0.85       9.04        2.73         2.78        3.13                  0.15
   New Mexico                      0.01        —         0.01           —        0.57        1.28         0.25        0.97                  0.82
   New York                        2.96      0.67        3.45         6.01      11.55        6.24         4.88        7.71                  4.10
   North Carolina                  1.45      2.44        2.24         3.86       0.58        6.84         3.57        0.98                  4.55
   North Dakota                      —         —         1.08           —        0.33          —            —           —                   0.07
   Ohio                            0.89      1.96        3.42         2.00       0.04        2.91         2.55        3.58                  2.29
   Oklahoma                        0.32        —         0.01           —        0.97        0.40         0.28        0.38                  0.60
   Oregon                          1.43        —         0.02         2.75       2.08        0.05         0.28        0.27                  0.61
   Pennsylvania                  3.17       10.37        3.97         0.80      1.95         5.41         3.53        6.46              4.19
   Puerto Rico                   5.20          —         0.01         3.33      0.10         0.07         1.34        0.37              0.31
   Rhode Island                  0.16          —         1.12         0.02      1.05         0.09         0.48        0.21              0.45
   South Carolina                0.47          —         2.22         0.37      0.08         0.93         1.87        2.62              1.68
   South Dakota                  0.23          —           —            —         —            —          0.29        0.01              0.02
   Tennessee                     0.19        2.66        1.35         1.29      0.06         2.73         1.18        1.64              2.65
   Texas                        12.39        5.57        8.77        10.78      8.21        12.72        14.41       18.07             17.49
   Utah                          0.05          —         0.01         0.01      1.63           —          0.05        0.42              0.63
   Vermont                         —           —           —            —       0.17           —          0.58        0.01              0.11
   Virgin Islands                  —           —           —            —         —            —          0.57          —                 —
   Virginia                      2.64        1.13        7.67         3.87      0.03         2.43         0.78        1.17              1.41
   Washington                    6.94        1.49        0.64         2.58      1.71         1.27         1.47        4.97              2.10
   West Virginia                   —         3.82        1.09         0.01        —          0.63           —         0.01              0.16
   Wisconsin                       —           —         0.59         0.01      1.97         1.51         0.82        2.73              3.14
   Wyoming                       0.12          —         0.67           —       0.01         0.82         0.06        0.02              0.65
   Totals                      100.00%     100.00%     100.00%      100.00%   100.00%      100.00%      100.00%     100.00%           100.00%
   AMT Percentage                0.61%      24.13%      16.94%       29.43%    17.11%       16.51%       20.00%       9.01%            15.34%
                                                                      Federal Obligations
  Certain BlackRock Open-End Funds invest in obligations of the United States and obligations guaranteed by the United States or an agency or
  instrumentality of the United States (“Federal Obligations”). The information below summarizes the percentage of income received by various BlackRock
  Funds from Federal Obligations. State law varies as to what percentage of dividend income attributable to Federal Obligations is exempt from State
  income tax. We recommend that you consult your tax adviser to determine if any portion of the dividends you received is exempt from State income tax.




                                                                                                                                                de fro me



                                                                                                                                                             )
                                                                                                                                                           (1
                                                                                                                                                ri d I f
                                                                                                                                              Fe ved nco
                                                                                                                                              De en e o


                                                                                                                                              Ob ral m

                                                                                                                                                        ns
                                                                                                                                                vid ag




                                                                                                                                                      io
                                                                                                                                  Da ble




                                                                                                                                              Di ent




                                                                                                                                                    at
                                                                                                                                    ya




                                                                                                                                                lig
                                                                                                                                    te



                                                                                                                                                 rc
  Fund Name




                                                                                                                                  Pa




                                                                                                                                              Pe
  BlackRock Asset Allocation Portfolio                                                                                         Quarterly          1.18
  BlackRock Bond Allocation Target Shares Series S Portfolio                                                                   Monthly            7.18
  BlackRock Bond Allocation Target Shares Series C Portfolio                                                                   Monthly            2.85
  BlackRock Bond Allocation Target Shares Series M Portfolio                                                                   Monthly            2.45
  BlackRock Conservative Prepared Portfolio                                                                                    12/30/08          12.07
  BlackRock Emerging Market Debt Portfolio                                                                                     Monthly            1.88
  BlackRock Enhanced Income Portfolio                                                                                          Monthly            2.04
  BlackRock Global Allocation Fund, Inc.                                                                                        7/18/08          18.09
                                                                                                                               12/16/08          17.58
  BlackRock GNMA Portfolio                                                                                                     Monthly            2.30
  BlackRock Government Income Portfolio                                                                                        Monthly           25.91
  BlackRock Income Portfolio                                                                                                   Monthly            1.04
  BlackRock Income Builder Portfolio                                                                                            7/18/08           1.28
  BlackRock Inflation Protected Portfolio (2)                                                                                  Monthly           87.68
  BlackRock Intermediate Bond Portfolio II                                                                                     Monthly            6.68
  BlackRock Intermediate Government Bond Portfolio                                                                             Monthly           19.63
  BlackRock Lifecycle Portfolio - 2010                                                                                         12/30/08          11.74
  BlackRock Lifecycle Portfolio - 2015                                                                                         12/30/08          11.98
  BlackRock Lifecycle Portfolio - 2020                                                                                         12/30/08          11.77
  BlackRock Lifecycle Portfolio - 2025                                                                                         12/30/08          11.10
  BlackRock Lifecycle Portfolio - 2030                                                                                         12/30/08          10.30
  BlackRock Lifecycle Portfolio - 2035                                                                                         12/30/08           7.26
  BlackRock Lifecycle Portfolio - 2040                                                                                         12/30/08           6.96
  BlackRock Lifecycle Portfolio - 2045                                                                                         12/30/08           5.60
  BlackRock Lifecycle Portfolio - 2050                                                                                         12/30/08           6.50
  BlackRock Long Duration Bond Portfolio                                                                                       Monthly            8.65
  BlackRock Low Duration Bond Portfolio                                                                                        Monthly            1.02
  BlackRock Managed Income Portfolio                                                                                           Monthly            3.58
  BlackRock Moderate Prepared Portfolio                                                                                        12/30/08          11.64
  BlackRock Money Market Portfolio                                                                                             Monthly            1.35
  BlackRock Short-Term Bond Fund                                                                                               Monthly            1.46
  BlackRock Strategic Portfolio I                                                                                              Monthly            1.56
  BlackRock Summit Cash Reserves Fund                                                                                          Monthly            1.20
  BlackRock Total Return Fund                                                                                                  Monthly            1.49
  BlackRock Total Return Portfolio II                                                                                          Monthly            2.09
  BlackRock U.S. Treasury Money Market Portfolio                                                                               Monthly            3.50
  CMA Government Securities Fund                                                                                               Monthly           28.04
  CMA Money Fund                                                                                                               Monthly            1.45
  CMA Treasury Fund (2)                                                                                                        Monthly           99.69
  WCMA Government Securities Fund                                                                                              Monthly           28.21
  WCMA Money Fund                                                                                                              Monthly            1.44
  WCMA Treasury Fund (2)                                                                                                       Monthly           99.43
  ML Ready Assets Trust                                                                                                        Monthly            1.46
  ML U.S. Treasury Money Fund (2)                                                                                              Monthly           99.02
  ML U.S.A. Government Reserves                                                                                                Monthly            2.45
  FDP Series, Inc.
     Franklin Templeton Total Return FDP Fund                                                                                  Monthly            2.35
     Van Kampen Value FDP Fund                                                                                                 8/22/08            5.11
                                                                                                                               12/5/08            2.88
(1) Includes U.S. Treasury Bills, U.S. Treasury Notes, U.S. Treasury Bonds, and obligations issued by the Federal Home Loan Bank and Federal Credit Banks.
(2) At least 50% of the assets of the fund were invested in Federal Obligations at the end of each quarter of the fiscal year.
                                                                      Foreign Source Income
   The information below summarizes the percentage of income that was derived from foreign sources with regard to certain BlackRock Open-End Funds.
   The foreign source income may have taxes associated with it that were paid by each Fund to various foreign jurisdictions. The Funds listed below have
   qualified to “pass-through” the foreign taxes and foreign source income to their shareholders. Accordingly, you may either deduct your portion of the
   taxes in computing your taxable income or take a credit for such taxes against your tax liability. These deductions or credits may be subject to limitations
   under the tax law. Your portion of the foreign taxes have been included on your Form 1099-DIV. The information below is provided to assist you in
   computing your foreign tax credit. Please consult your tax adviser regarding the appropriate treatment of foreign source income and foreign taxes.




                                                                                                                                                                             m
                                                                                                                                                   )




                                                                                                                                                                        ) ro
                                                                                                                                                )(2




                                                                                                                                                                    s (1 e f
                                                                                                                                              (1
                                                                                                                                  Di ou e




                                                                                                                                          ig e
                                                                                                                                ed S om




                                                                                                                                s (1 or om
                                                                                                                                        en e




                                                                                                                                                                  ce m
                                                                                                                                     vid rc




                                                                                                                                            n
                                                                                                                                           ds




                                                                                                                                                                ur co
                                                                                                                             ifi ign c




                                                                                                                             ce r F c
                                                                                                                           al re f In




                                                                                                                           ur he f In
                                                                                                                                    ) e




                                                                                                                                                              So f In
                                                                                                                        Qu Fo e o




                                                                                                                        So Ot o




                                                                                                                                                           ign e o
                                                                                                                                   e
                                                                                                                           m ag




                                                                                                                                 ag




                                                                                                                                                         re ag
                                                                                                        Da ble




                                                                                                                        fro ent




                                                                                                                        fro ent




                                                                                                                                                       Fo ent
                                                                                                          ya




                                                                                                                           m
                                                                                                                           rc




                                                                                                                           rc
                                                                                                          te




                                                                                                                                                         rc
   Fund Name




                                                                                                                        Pe




                                                                                                                        Pe
                                                                                                        Pa




                                                                                                                                                       Pe
   BlackRock EuroFund                                                                               12/12/08               100           —           100
   BlackRock Global Emerging Markets Fund, Inc. (Formerly BlackRock Developing Capital              09/19/08             40.67           —         40.67
      Markets Fund, Inc.)                                                                           12/16/08               100           —           100
   BlackRock Global Financial Services Fund, Inc.                                                   12/12/08             58.25           —         58.25
   BlackRock International Bond Portfolio                                                           Monthly                 —         20.49        20.49
   BlackRock International Fund                                                                      8/21/08               100           —           100
   BlackRock International Index Fund                                                                7/18/08             79.45           —         79.45
                                                                                                    12/18/08               100           —           100
   BlackRock International Opportunities Portfolio                                                  12/16/08               100           —           100
   BlackRock International Value Fund                                                                9/19/08               100           —           100
   BlackRock Pacific Fund, Inc.                                                                     12/16/08               100           —           100
   BlackRock Strategic Portfolio I                                                                  Monthly                 —         71.62        71.62
   BlackRock World Income Fund, Inc.                                                                Monthly                 —         46.79        46.79
   Managed Account Series - Global Small Cap Portfolio                                               7/18/08               100           —           100
   FDP Series, Inc.
      MFS Research International FDP Fund                                                            8/22/08             89.94           —         89.94
(1) To determine your portion of foreign source qualified dividends, other foreign source income and total foreign source income, multiply the dollar amount of your
    ordinary dividend for each distribution date by the percentage indicated.
(2) Represents the portion of your qualified dividends that was derived from foreign sources. As a result of the lower tax rates on qualified dividends, these amounts
    may be subject to certain adjustments before they are taken into account for purposes of computing your foreign tax credit. Please refer to the instructions for
    Form 1116 or consult your tax adviser for additional information.

                                                                Single State Municipal Funds
   The information below summarizes the percentage of exempt interest income received by various BlackRock Open-End Funds on a state-by-state
   basis. These percentages may be useful in completing your state tax return. In addition, the percentage of income that represents a tax preference
   item (relating to tax-exempt interest income from private activity bonds) for Federal Alternative Minimum Tax purposes is included for each Fund.
   Shareholders are urged to consult their tax adviser concerning the application of this information.
   Percentage of Exempt Interest




                                                                                                                                        im e to
                                                                                                          ns




                                                                                                                                      in iv ct
                                                                                             d rit m




                                                                                                                                               s (1)
                                                                                                  ss ies




                                                                                                                                      he on m
                                                                                                         e




                                                                                                      sio




                                                                                                                                      te Su f
                                                                                            S. e f
                                                                                            lig fro f




                                                                                                                                    M nat bje


                                                                                                                                                ax
                                                                                                       at




                                                                                                                                   Al me e o
                                                                                          an Ter fro
                                                                                         U. com e o
                                                                                                  ed f




                                                                                                                                      li e f
   Income Derived by State




                                                                                                                                           ta f
                                                                                         Ob me e o




                                                                                                                                   Ot gati fro
                                                                                               ifi s o




                                                                                                                                   Ob com ge o
                                                                                         Sp ati m




                                                                                                                                         rS so
                                                                                               Po or
                                                                                                    St




                                                                                                    es




                                                                                                                                        T) T
                                                                                                                                             te


                                                                                                                                      co ag
                                                                                             In tag
                                                                                           co ag


                                                                                            ec on




                                                                                                                                      M m
                                                                        at d




                                                                                                                                      In ta




                                                                                                                                    In ent
                                                                                         In ent
                                                                      St cifie




                                                                                                                                   (A u
                                                                                               en




                                                                                                                                        en




                                                                                                                                        r
                                                                                             rc




                                                                                                                                       rc
                                                                          e




                                                                                            rc




   Fund Name


                                                                                                                                      rc
                                                                         e




                                                                                          Pe




                                                                                                                                    Pe
                                                                                         Pe
                                                                      Sp




                                                                                                                                   Pe
   BlackRock California Insured Municipal Bond Fund                  California            98.31                1.69                    —                    7.96
   BlackRock Delaware Municipal Bond Portfolio                       Delaware              55.79               29.80                 14.41                  11.72
   BlackRock Florida Municipal Bond Fund                              Florida              94.22                4.39                  1.39                  19.98
   BlackRock Kentucky Municipal Bond Portfolio                       Kentucky              70.01               17.67                 12.32                  12.51
   BlackRock New Jersey Municipal Bond Fund                         New Jersey             82.32               12.30                  5.38                  14.92
   BlackRock New York Municipal Bond Fund                            New York              88.69               11.31                    —                   27.08
   BlackRock Ohio Municipal Bond Portfolio                             Ohio                69.44               22.56                  8.00                   1.98
   BlackRock Pennsylvania Municipal Bond Fund                      Pennsylvania            76.73               11.34                 11.93                  13.72
   BlackRock New Jersey Municipal Money Market Portfolio            New Jersey             97.45                2.55                    —                   12.40
   BlackRock North Carolina Municipal Money Market Portfolio      North Carolina           95.80                4.20                    —                    0.91
   BlackRock Ohio Municipal Money Market Portfolio                     Ohio                98.90                1.10                    —                   28.01
   BlackRock Pennsylvania Municipal Money Market Portfolio         Pennsylvania            98.81                1.19                    —                   28.05
   BlackRock Virginia Municipal Money Market Portfolio                Virginia             90.81                9.19                    —                      —
   CMA Multi-State Municipal Series Trust:
      CMA Arizona Municipal Money Fund                                Arizona              97.10                 2.90                   —                   30.13
      CMA California Municipal Money Fund                            California            97.88                 2.12                   —                   33.30
      CMA Connecticut Municipal Money Fund                         Connecticut             92.49                 7.51                   —                   14.14
      CMA Florida Municipal Money Fund                                Florida              98.19                 1.81                   —                   29.69
      CMA Massachusetts Municipal Money Fund                      Massachusetts            98.76                 1.24                   —                   11.19
      CMA Michigan Municipal Money Fund                              Michigan              96.83                 3.17                   —                   42.77
      CMA New Jersey Municipal Money Fund                           New Jersey             95.93                 4.07                   —                   24.16
      CMA New York Municipal Money Fund                              New York              99.86                 0.14                   —                   24.39
      CMA North Carolina Municipal Money Fund                     North Carolina           96.95                 3.05                   —                   42.87
      CMA Ohio Municipal Money Fund                                    Ohio                99.65                 0.35                   —                   30.50
      CMA Pennsylvania Municipal Money Fund                        Pennsylvania            98.93                 1.07                   —                   31.01
(1) For a breakdown of states included in this percentage, please call 1-800-441-7762.

								
To top