State Exempt Tax Information

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					                                        2010 State Tax Information
                                       for USAA Tax-Exempt Income
This report has been prepared for shareholders with tax-exempt dividends in the following USAA funds to assist
them in completing their 2010 state income tax return(s). Please consult with your tax advisor to determine how
your state defines tax-exempt income. If you have questions about how this information relates to your 1099 tax
documents, please call us at 1-800-531-6347. Information included on this form is not reported to the Internal
Revenue Service.

                                                     Source of Tax-Exempt Income
  USAA Fund No.           0043         0044         0045         0046          0053                      0043      0044       0045        0046      0053
                           Tax          Tax          Tax          Tax         Growth                      Tax       Tax        Tax         Tax     Growth
                         Exempt       Exempt       Exempt       Exempt          and                     Exempt    Exempt     Exempt      Exempt      and
                          Long-        Int.-       Short-       Money           Tax                      Long-     Int.-     Short-      Money       Tax
                          Term         Term         Term         Mkt.        Strategy                    Term      Term       Term        Mkt.    Strategy
          Alabama 	       1.49%   	    1.42%   	   2.16%    	    6.35%   	   0.00%              Montana 	 0.40% 	 0.29% 	 0.09% 	         3.12%   	 0.00%
            Alaska 	      0.15%   	    0.79%   	   0.19%    	    0.00%   	   0.00%             Nebraska 	 0.29% 	 0.11% 	 0.00% 	         0.12%   	 0.00%
           Arizona 	      3.62%   	    2.41%   	   3.68%    	    0.99%   	   4.44%               Nevada 	 2.63% 	 0.96% 	 0.46% 	         0.57%   	 0.00%
         Arkansas 	       0.04%   	    0.67%       0.44%    	    0.14%   	   0.00%       New	Hampshire 	 0.01% 	 0.39% 	 1.27% 	          0.02%   	 0.00%
        California 	      5.43%   	    9.08%   	   11.97%   	    3.53%   	   1.70%           New	Jersey 	 1.97% 	 1.91% 	 2.46% 	         1.06%   	 3.72%
         Colorado 	       2.27%   	    2.12%   	   2.72%    	    6.35%   	   0.76%          New	Mexico 	 1.39% 	 1.55% 	 1.26% 	          0.05%   	 2.07%
      Connecticut 	       2.46%   	    0.87%   	   0.27%    	    0.83%   	   6.26%             New	York 	 5.13% 	 10.20% 	 6.54% 	        5.38%   	 15.78%
         Delaware 	       0.13%   	    0.35%   	   0.22%    	    0.78%   	   0.00%        North	Carolina 	 0.91% 	 1.56% 	 0.34% 	        0.00%   	 1.24%
                D.C. 	    1.26%   	    0.50%   	   0.30%    	    0.19%   	   0.00%         North	Dakota 	 0.39% 	 0.10% 	 0.00% 	         0.00%   	 0.00%
            Florida		     5.17%   	    7.15%   	   4.49%    	    3.06%   	   6.00%                   Ohio 	 2.52% 	 2.58% 	 2.60% 	       4.60%   	 0.00%
          Georgia 	       1.57%   	    1.24%   	   0.76%    	    1.57%   	   0.01%             Oklahoma 	 2.78% 	 1.58% 	 0.60% 	         3.39%   	 0.00%
              Guam 	      0.00%   	    0.19%   	   0.13%    	    0.00%   	   0.00%               Oregon 	 0.08% 	 0.11% 	 0.02% 	         1.18%   	 0.00%
            Hawaii 	      0.31%   	    0.09%   	   0.00%    	    0.02%   	   0.67%         Pennsylvania 	 0.41% 	 1.06% 	 6.10% 	         3.36%   	 0.00%
              Idaho 	     0.02%   	    0.03%   	   0.68%    	    0.00%   	   0.00%           Puerto	Rico 	 0.02% 	 0.45% 	 1.11% 	        1.25%   	 0.00%
            Illinois 	    9.74%   	    6.62%   	   5.85%    	    3.78%   	   0.05%         Rhode	Island 	 1.11% 	 0.42% 	 0.02% 	         0.39%   	 0.38%
           Indiana 	      3.15%   	    2.66%   	   3.87%    	    2.19%   	   7.21%        South	Carolina 	 2.64% 	 2.07% 	 3.46% 	        2.16%   	 0.00%
               Iowa 	     0.57%   	    0.65%   	   0.88%    	    3.15%   	   0.00%         South	Dakota 	 0.33% 	 0.39% 	 0.94% 	         1.59%   	 0.00%
           Kansas 	       0.91%   	    0.85%   	   0.38%    	    0.07%   	   0.00%            Tennessee 	 1.73% 	 1.14% 	 0.48% 	         1.06%   	 0.75%
         Kentucky 	       0.65%   	    0.31%   	   0.94%    	    2.13%   	   1.52%                  Texas 	 20.57% 	 17.70% 	 10.48% 	    9.82%   	 27.01%
        Louisiana 	       1.83%   	    2.86%   	   3.79%    	    3.31%   	   2.90%                   Utah 	 0.14% 	 1.82% 	 0.09% 	       0.28%   	 0.00%
             Maine 	      0.64%   	    0.12%   	   0.03%    	    0.08%   	   0.56%              Vermont 	 0.07% 	 0.03% 	 0.00% 	         0.08%   	 0.00%
         Maryland 	       1.00%   	    0.43%   	   0.84%    	    0.89%   	   0.00%          Virgin	Island 	 0.00% 	 0.03% 	 0.46% 	       0.00%   	 0.00%
    Massachusetts 	       1.58%   	    1.75%   	    1.43%   	    0.54%   	   0.00%               Virginia 	 2.57% 	 2.20% 	 3.23% 	       1.43%   	 0.00%
         Michigan 	       1.27%   	    3.30%   	   3.39%    	    5.50%   	   9.95%           Washington 	 1.58% 	 0.54% 	 0.33% 	         3.69%   	 3.13%
        Minnesota 	       1.25%   	    1.90%   	   0.27%    	    2.53%   	   0.00%         West	Virginia 	 0.24% 	 0.00% 	 1.01% 	        1.26%   	 1.99%
       Mississippi 	      0.38%   	    0.14%   	    1.29%   	    1.72%   	   0.00%             Wisconsin 	 0.97% 	 1.25% 	 2.28% 	        0.53%   	 0.00%
          Missouri 	      1.78%        1.06%   	    1.93%   	    2.12%   	   1.90%              Wyoming 	 0.45% 	 0.00% 	 1.47% 	         1.79%   	 0.00%


In general, Utah residents may exclude interest income attributable to municipal tax-exempt mutual funds
(and bonds) when calculating their state income tax when one of the following occurs:
• Municipal bonds represent a Utah municipality of state-related agency.
• Municipal bonds were issued by the District of Columbia or these states (or political subdivision or agencies of
  these states): Alaska, Florida, Indiana, Nevada, North Dakota, South Dakota, Texas, Washington and Wyoming.
• Municipal bonds were issued by most non-federal government entities outside of Utah if owned prior to
  January 1, 2003.

Your percentage of earnings on your USAA fund(s) excluded from Utah state tax is:
         Tax Exempt                         Tax Exempt                          Tax Exempt            Tax Exempt                  Growth and
         Long-Term                      Intermediate-Term                       Short-Term           Money Market                 Tax Strategy
           50.05%                             44.53%                              26.75%                34.19%                      58.24%

The rules that govern state taxation, including the types of taxes assessed, vary by state. Please
consult your tax advisor, local IRS office, or state or local taxing authority for additional information.

Consider the investment objectives, risks, charges and expenses of the USAA mutual funds carefully before investing. Call us at 1-800-531-8722
for a prospectus containing this and other information about the funds from USAA Investment Management Company, Distributor. Please read
the prospectus carefully before investing.
                                                                                                                                                     27602-0111

				
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