California Insured Trust, Series 14
(The First Trust Combined Series 256)
Supplement to the Prospectus Dated October 19, 1995
Notwithstanding anything to the contrary in the Prospectus, the
following table sets forth the approximate marginal taxable yields
for individuals that are equivalent to tax-exempt yields under
combined Federal and state taxes, using published Federal tax
rates and state tax rates scheduled to be in effect in 1996 and
replaces that table found on page 6 of 12 of the Prospectus. In
addition, the taxable equivalent yields may be somewhat higher
than the equivalent yields indicated in the following table for
those individuals who have adjusted gross income in excess of
$117,950.
<TABLE>
<CAPTION>
TAXABLE EQUIVALENT YIELD
Taxable Income ($1,000's) Tax-Exempt Yield
________________________ _____________________________________
Single Joint Tax 4.50% 5.00% 5.50%
Return Return Rate* Taxable Equivalent Yield
_____________________________________________________________________________________________________
<C> <C> <S> <C> <C> <C>
$ 0 - 24.00 $ 0 - 40.10 20.1% 5.63 6.26 6.88
24.00 - 58.15 40.10 - 96.90 34.7 6.89 7.66 8.42
96.90 - 147.70 37.4 7.19 7.99 8.79
58.15 - 121.30 37.4 7.19 7.99 8.79
121.30 - 219.87 147.70 - 263.75 42.0 7.76 8.62 9.48
219.87 - 263.75 42.0 7.76 8.62 9.48
263.75 - 439.74 45.2 8.21 9.12 10.04
Over 263.75 Over 439.74 45.2 8.21 9.12 10.04
</TABLE>
[FN]
* The state tax brackets are those for 1995. The 1996 brackets
will be adjusted to take into account changes in the California
Consumer Price Index. These adjustments have not been released.
The table reflects a decrease in state income tax rates for high
income taxpayers which is, under current law, scheduled to take
place beginning in 1996.
February 7, 1996
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