Eaton Vance Closed-End Funds

Transcription

1 Eaton Vance Eaton Vance Closed-End Funds 2016 Tax Guide Supplement Our Investment Affiliates Eaton Vance Management

2 Contents Income by State 2 Tax-Exempt Income and AMT by Fund 5 Dividends-Received Deduction 6 Sources of Income 7 Foreign Tax Credit/Deduction 8

3 Eaton Vance Funds P.O. Box 9653 Providence, RI (800) Dear Shareholder: We are pleased to provide you with the Eaton Vance Funds 2016 Tax Guide Supplement. Within this brochure you will find additional information which should aid you or your tax advisor in the preparation of your Federal and/or State Income Tax Returns. Please look through this information carefully when preparing your 2016 tax filings. Should you have questions regarding these documents, please don t hesitate to contact an Eaton Vance Representative at or consult your tax advisor. Mutual fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested Eaton Vance Two International Place Boston, MA

4 INCOME BY STATE MULTI-STATE FUNDS STATE TAX INFORMATION For state tax purposes, your tax-exempt income may be taxable except for possibly that portion applicable to the net tax-exempt income earned in your particular state of residence. See the following table for the percentage of net tax-exempt income, if any, earned in your state of residence in We suggest that you contact your tax adviser for assistance in determining the tax treatment of the tax-exempt dividends in your state. Municipal National Municipal Tax-Advantaged Municipal Income Municipal Municipal Income 2028 Bond and Option State / Bond Fund Trust Bond Fund II Opportunities Term Trust Strategies Fund Territory (EIM) (EVN) (EIV) Trust (EOT) (ETX) (EXD) Alabama 0.71% 0.89% 3.34% 3.06% 0.00% 0.00% Alaska 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Arizona 2.47% 3.47% 3.45% 5.93% 11.13% 2.27% Arkansas 0.00% 0.00% 0.00% 0.00% 0.00% 5.13% California 8.63% 10.34% 5.74% 12.52% 5.72% 13.86% Colorado 1.63% 0.83% 1.03% 0.00% 0.00% 0.00% Connecticut 2.60% 0.08% 1.06% 0.00% 0.00% 0.00% Delaware 0.00% 0.00% 0.00% 0.00% 1.11% 0.00% District of Columbia 0.78% 0.00% 1.48% 0.00% 0.00% 0.00% Florida 5.27% 3.88% 4.79% 5.82% 2.64% 6.04% Georgia 0.77% 7.53% 0.00% 2.80% 0.27% 3.76% Guam 0.00% 0.00% 0.00% 0.86% 0.00% 0.00% Hawaii 1.03% 1.27% 2.25% 2.17% 3.07% 3.06% Idaho 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Illinois 6.19% 6.19% 5.76% 8.58% 6.38% 0.00% Indiana 0.22% 0.58% 0.69% 2.68% 0.00% 0.00% Iowa 0.26% 0.70% 0.00% 0.00% 0.00% 0.00% Kansas 1.04% 0.00% 0.40% 1.96% 0.00% 0.00% Kentucky 0.26% 0.15% 0.00% 1.08% 0.00% 0.00% Louisiana 1.25% 0.00% 1.53% 0.00% 1.06% 0.59% Maine 0.55% 1.26% 0.72% 2.81% 0.00% 0.00% Maryland 1.54% 0.34% 5.05% 0.42% 0.00% 7.49% Massachusetts 7.75% 5.06% 3.78% 2.10% 5.27% 4.52% Michigan 2.99% 2.62% 1.82% 3.82% 3.41% 0.00% Minnesota 0.00% 0.54% 0.00% 0.00% 0.00% 0.00% Mississippi 1.95% 0.00% 1.16% 0.00% 0.00% 0.29% Missouri 1.19% 0.00% 0.00% 1.90% 0.00% 0.00% Montana 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Nebraska 0.83% 0.43% 0.00% 0.45% 0.05% 0.00% Nevada 1.30% 0.96% 1.25% 1.45% 0.00% 0.00% New Hampshire 0.61% 0.00% 0.77% 3.17% 0.00% 1.19% -2- CONTINUED

5 INCOME BY STATE MULTI-STATE FUNDS Municipal National Municipal Tax-Advantaged Municipal Income Municipal Municipal Income 2028 Bond and Option State / Bond Fund Trust Bond Fund II Opportunities Term Trust Strategies Fund Territory (EIM) (EVN) (EIV) Trust (EOT) (ETX) (EXD) New Jersey 4.02% 8.54% 5.42% 5.42% 8.39% 0.27% New Mexico 0.00% 0.05% 0.00% 0.00% 0.00% 0.00% New York 13.93% 22.00% 16.57% 7.67% 11.74% 10.59% North Carolina 3.94% 2.38% 6.06% 0.00% 0.00% 3.58% Ohio 1.84% 0.47% 2.01% 0.00% 5.20% 7.89% Oklahoma 0.00% 0.00% 0.00% 0.00% 0.00% 0.19% Oregon 2.01% 0.38% 1.37% 0.48% 5.97% 0.00% Pennsylvania 2.23% 2.20% 5.60% 0.59% 6.24% 1.18% Puerto Rico 0.00% 4.55% 0.00% 0.00% 5.33% 0.00% Rhode Island 0.00% 0.17% 0.00% 0.00% 0.00% 0.00% South Carolina 2.97% 1.83% 2.52% 0.00% 0.00% 5.76% Tennessee 0.49% 0.11% 0.64% 1.40% 0.00% 0.00% Texas 7.37% 9.59% 5.45% 17.81% 9.07% 7.97% U.S. Virgin Islands 0.00% 0.35% 0.00% 0.00% 0.00% 0.00% Utah 0.03% 0.00% 0.00% 0.00% 0.00% 3.38% Vermont 0.17% 0.00% 0.49% 0.00% 0.00% 2.99% Virginia 0.00% 0.00% 0.87% 0.00% 2.82% 0.99% Washington 6.87% 0.00% 6.15% 1.02% 2.89% 3.64% West Virginia 0.73% 0.26% 0.00% 0.00% 0.41% 0.00% Wisconsin 1.58% 0.00% 0.78% 1.04% 1.83% 3.37% Wyoming 0.00% 0.00% 0.00% 0.99% 0.00% 0.00% -3-

6 INCOME BY STATE SINGLE STATE FUNDS STATE TAX INFORMATION The chart below lists, on a state by state basis, the source of the exempt interest dividends for We suggest that you contact your tax adviser concerning the application of the state and local taxes to your 2016 exempt interest dividends. Primary Primary U.S. Possessions/ Other Fund State State % Territories % States % Total California Municipal Income Trust (CEV) CA 99.38% 0.62% 0.00% % California Municipal Bond Fund (EVM) CA 98.79% 1.21% 0.00% % California Municipal Bond Fund II (EIA) CA 98.15% 1.85% 0.00% % Massachusetts Municipal Bond Fund (MAB) MA 93.40% 6.60% 0.00% % Massachusetts Municipal Income Trust (MMV) MA 98.37% 1.63% 0.00% % Michigan Municipal Bond Fund (MIW) MI 93.76% 6.24% 0.00% % Michigan Municipal Income Trust (EMI) MI 95.29% 4.71% 0.00% % New Jersey Municipal Bond Fund (EMJ) NJ 97.45% 2.55% 0.00% % New Jersey Municipal Income Trust (EVJ) NJ 96.43% 3.57% 0.00% % New York Municipal Bond Fund (ENX) NY % 0.00% 0.00% % New York Municipal Bond Fund II (NYH) NY % 0.00% 0.00% % New York Municipal Income Trust (EVY) NY 99.58% 0.42% 0.00% % Ohio Municipal Bond Fund (EIO) OH 95.08% 4.92% 0.00% % Ohio Municipal Income Trust (EVO) OH 95.61% 4.39% 0.00% % Pennsylvania Municipal Bond Fund (EIP) PA 93.10% 6.90% 0.00% % Pennsylvania Municipal Income Trust (EVP) PA 93.96% 6.04% 0.00% % -4-

7 TAX-EXEMPT INCOME & AMT FEDERAL TAX INFORMATION Refer to the table below to compute the amount of your dividends from income in 2016 that are subject to Federal income tax. In addition, tax regulations require that tax-exempt income be reported on Form 1040, page 1, line 8b. Shareholders subject to the Alternative Minimum Tax (AMT) should refer to the table below in order to compute the amount of your tax-exempt income subject to reporting on Form 6251, Alternative Minimum Tax Individuals. For 2016 the dollar amounts associated with these percentages will appear on Form 1099-INT, Box 8 and 9, or a substitute form received from your financial advisor. We are providing these percentages for information purposes only. STATE TAX INFORMATION We suggest that you contact your tax adviser for assistance in determining the tax treatment of the tax-exempt dividends in your state. Percent Percent Subject Tax- Subject To To Federal Exempt Alternative Fund Income Tax Percentage Minimum Tax California Municipal Bond Fund (EVM) 0.55% 99.45% 0.00% California Municipal Bond Fund II (EIA) 0.60% 99.40% 0.00% California Municipal Income Trust (CEV) 3.78% 96.22% 5.70% Massachusetts Municipal Bond Fund (MAB) 0.00% % 0.00% Massachusetts Municipal Income Trust (MMV) 1.45% 98.55% 6.23% Michigan Municipal Bond Fund (MIW) 0.25% 99.75% 0.00% Michigan Municipal Income Trust (EMI) 1.24% 98.76% 8.13% Municipal Bond Fund (EIM) 0.13% 99.87% 0.00% Municipal Bond Fund II (EIV) 0.00% % 0.00% Municipal Income Trust (EVN) 5.04% 94.96% 18.11% Municipal Income 2028 Term Trust (ETX) 4.86% 95.14% 14.00% National Municipal Opportunities Trust (EOT) 5.24% 94.76% 13.18% New Jersey Municipal Bond Fund (EMJ) 0.10% 99.90% 0.00% New Jersey Municipal Income Trust (EVJ) 2.22% 97.78% 24.22% New York Municipal Bond Fund (ENX) 0.81% 99.19% 0.00% New York Municipal Bond Fund II (NYH) 1.48% 98.52% 0.00% New York Municipal Income Trust (EVY) 0.32% 99.68% 14.41% Ohio Municipal Bond Fund (EIO) 0.00% % 0.00% Ohio Municipal Income Trust (EVO) 2.53% 97.47% 6.06% Pennsylvania Municipal Bond Fund (EIP) 0.00% % 0.00% Pennsylvania Municipal Income Trust (EVP) 0.05% 99.95% 9.53% Tax-Advantaged Bond and Option Strategies Fund (EXD)* 20.30% 79.70% 0.00% * Excludes return of capital distributions of 84.20%. -5-

8 DIVIDENDS-RECEIVED DEDUCTION Corporate Shareholders* To determine the amount of your dividends from income which qualify for the dividends-received deduction, multiply the percentage stated below for your fund by the total amount of income distributions (excluding return of capital) received. Qualifying Fund Percentage Enhanced Equity Income Fund (EOI) % Enhanced Equity Income Fund II (EOS) % Floating-Rate Income Plus Fund (EFF) 6.57% Risk-Managed Diversified Equity Income Fund (ETJ) % Tax-Advantaged Dividend Income Fund (EVT) 61.76% Tax-Advantaged Global Dividend Income Fund (ETG) 26.86% Tax-Advantaged Global Dividend Opportunities Fund (ETO) 66.56% Tax-Managed Buy-Write Income Fund (ETB) % Tax-Managed Buy-Write Opportunities Fund (ETV) % Tax-Managed Diversified Equity Income Fund (ETY) % Tax-Managed Global Buy-Write Opportunities Fund (ETW) 75.72% Tax-Managed Global Diversified Equity Income Fund (EXG) 93.79% * Note: The dividends-received deduction applies to corporate taxpayers only. Individuals are not eligible for this deduction. -6-

9 SOURCES OF INCOME INCOME FROM U.S. GOVERNMENT SOURCES The table below provides the percentage of dividends from income that you received during 2016 that may be exempt from state and perhaps local taxation because it was earned from direct obligations of the U.S. Government or its agencies. The total amount of dividends received, which is shown in Box 1a of the Form 1099-DIV, should be multiplied by the percentages on the table below, to determine the appropriate dollar amount of each income source. If you did not receive a Form DIV, multiply these percentages by the amount of dividends from income that you received during the year as shown on your shareholder statements. It is suggested that you contact your tax advisor for assistance in determining the tax treatment of dividends in your state. Fund UST FHLB FHLMC FNMA FFCB GNMA SLMA CORP TOTAL FFloating-Rate Income Plus Fund (EFF) % 100% Floating-Rate Income Trust (EFT) % 100% Limited Duration Income Fund (EVV) 1% 1% 6% 8% - 2% - 82% 100% Senior Floating-Rate Trust (EFR) % 100% Senior Income Trust (EVF) % 100% Short Duration Diversified Income Fund (EVG) % 17% - 3% - 66% 100% Tax-Advantaged Bond and Option Strategies Fund (EXD) 27% % 100% Legend: UST U.S. Treasury Bills, Notes & Bonds FFCB Federal Farm Credit Banks FHLB Federal Home Loan Bank GNMA Government National Mortgage Association FHLMC Federal Home Loan Mortgage SLMA Student Loan Marketing Association Corporation FNMA Federal National Mortgage Association CORP Corporate Securities -7-

10 FOREIGN TAX CREDIT/DEDUCTION Shareholders may elect to treat the foreign taxes paid by their funds as a deduction from gross income when computing taxable income or as a foreign tax credit against federal income tax on their 2016 income tax return. A deduction reduces your income subject to tax, whereas a credit reduces your actual U.S. income tax on a dollar-for-dollar basis. DEDUCTION If you are an individual taxpayer and elect to reflect the foreign tax paid as reported in Box 6 of Form 1099-DIV as an itemized deduction, it should be claimed on schedule A of Form FOREIGN INCOME To calculate your foreign income multiply the amount in Box 1a of your 2016 Form 1099-DIV by the income factor in the table below. FOREIGN TAXES To calculate your foreign tax multiply the amount in Box 6 of your 2016 Form 1099-DIV by the tax factor in the table below. TAX CREDIT If you are an individual whose only foreign income is passive income (dividends, interest, etc.), and the total of all your foreign taxes shown on forms 1099-DIV, 1099-INT, and similar statements is not more than $300 ($600 if married filing jointly), you can make an election not to be subject to the foreign tax limit. If you make this election, you claim the credit on line 48 of Form If you are not exempt from the limit, you must file Form 1116 with your U.S. income tax return. The table below will assist you in completing Form Fund Income Factor Tax Factor None Shareholders are urged to consult their own tax counsel for assistance or information relating to federal, state and local tax treatment of Fund distributions and foreign taxes paid. -8-

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