SPARTAN MUNICIPAL FUNDS
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 20, 1994
The following information replaces similar information which can be found
on page 17:
1995 TAX RATES AND TAX-EQUIVALENT YIELDS
Federal Income
Taxable Tax
Income* Bracket**
Single Return Joint Return
$ 23,351 - $ 56,550 $ 39,001 - $ 94,250 28%
$ 56,551 - $ 117,950 $ 94,251 - $ 143,600 31%
$ 117,951 - $ 256,500 $ 143,601 - $ 256,500 36%
$ 256,501 and above $ 256,501 and above 39.6%
* Net amount subject to federal income tax after deductions and exemptions.
Assumes ordinary income only.
** Excludes the impact of the phaseout of personal exemptions, limitations
on itemized deductions, and other credits, exclusions, and adjustments
which may increase a taxpayer's marginal tax rate. An increase in a
shareholder's marginal tax rate would increase that shareholder's
tax-equivalent yield.
SMUB-95-1 February 1, 1995
SPARTAN ARIZONA MUNICIPAL MONEY MARKET PORTFOLIO
A FUND OF FIDELITY UNION STREET TRUST II
SPARTAN ARIZONA MUNICIPAL INCOME PORTFOLIO
A FUND OF FIDELITY UNION STREET TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 7, 1994
The following table replaces that found in the section entitled
"Performance" beginning on page 15.
1995 TAX RATES AND TAX-EQUIVALENT YIELDS
Taxable Income* Federal Combined Arizona
Income Tax State and Federal Effective
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Single Return Joint Return Bracket Marginal Rate Bracket **
$0 - 10,000 $0 - 20,000 15.0% 3.25% 17.76%
10,001 - 23,350 20,001 - 39,000 15.0 4.00 18.40
23,351 - 25,000 39,001 - 50,000 28.0 4.00 30.88
25,001 - 50,000 50,001 - 94,250 28.0 5.05 31.64
50,001 - 56,550 - 28.0 6.40 32.61
- - 94,251 - 100,000 31.0 5.05 34.48
56,551 - 117,950 100,001 - 143,600 31.0 6.40 35.42
117,951 - 150,000 143,601 - 256,500 36.0 6.40 40.10
150,001 - 256,500 - 36.0 6.90 40.42
- - 256,501 - 300,000 39.6 6.40 43.47
256,501+ 300,001+ 39.6 6.90 43.77
</TABLE>
* Net amount subject to federal income tax after deductions and exemptions.
Assumes ordinary income only.
** Excludes the impact of the phaseout of personal exemptions, limitations
on itemized deductions, and other credits, exclusions, and adjustments
which may increase a taxpayer's marginal tax rate. An increase in a
shareholder's marginal tax rate would increase that shareholder's
tax-equivalent yield.
SPARTAN(Registered trademark) MARYLAND MUNICIPAL INCOME FUND
A FUND OF FIDELITY UNION STREET TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 20, 1994
The following table replaces that found in the section entitled
"Performance" beginning on page 12.
1995 TAX RATES
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Combined Maryland
Single Return Joint Return Federal Income Maryland and Federal Effective
Taxable Income* Taxable Income Tax Bracket Marginal Rate Tax Bracket**
</TABLE>
$23,351 - 56,550 $39,001 - 94,250 28% 8% 33.76%
56,551 - 117,950 94,251 - 143,600 31% 8% 36.52%
117,951 - 256,500 143,601 - 256,500 36% 8% 41.12%
256,501 + 256,501 + 39.6% 8% 44.43%
* Net amount subject to federal income tax after deductions and exemptions.
Assumes ordinary income only.
** Excludes the impact of the phaseout of personal exemptions, limitations
on itemized deductions, and other credits, exclusions, and adjustments
which may increase a taxpayer's marginal tax rate. An increase in a
shareholder's marginal tax rate would increase that shareholder's
tax-equivalent yield.
Combined Maryland and federal effective tax brackets take into account the
highest combined Maryland state and county income tax rate of 8.00%.
For Allegany, Montogmery, St. Mary's, Somerset, Talbot, and Wicomico
counties, the county income tax rate is equal to 60% of Maryland state
taxes. For Prince George's County, the county income tax rate is 58% of the
state tax. For Baltimore and Queen Anne's counties, the county income tax
rate is 55% of the state tax. For Worcester county, the county income tax
rate is 30% of the state tax. The county income tax rate for the remaining
counties of the State of Maryland, as well as the city of Baltimore, is 50%
of the state tax. Figures are tax-effected to reflect the federal tax
benefit for persons who itemize deductions.
Having determined your effective tax bracket above, use the following table
to determine the tax equivalent yield for a given tax-free yield.
If your combined effective federal, state and county personal income tax
rate in 1995 is:
33.76% 36.52% 41.12% 44.43%
<TABLE>
<CAPTION>
<S> <C>
To match these
tax-free rates: Your taxable investment would have to earn the following yield:
</TABLE>
3% 4.53% 4.73% 5.10% 5.40%
4% 6.04% 6.30% 6.79% 7.20%
5% 7.55% 7.88% 8.49% 9.00%
6% 9.06% 9.45% 10.19% 10.80%
7% 10.57% 11.03% 11.89% 12.60%
