FIDELITY CALIFORNIA TAX-FREE FUNDS
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 16, 1993
The following tables update those found in the section entitled
"Performance" beginning on page 16.
1993 TAX RATES AND TAX EQUIVALENT YIELDS
Combined California
Single Return Joint Return Federal and Federal Effective
Taxable Income* Taxable Income* Tax Bracket Tax Bracket
$22,101 - 23,637 $36,901 - 47,274 28% 32.32%
23,638 - 29,873 47,275 - 59,746 28% 33.76%
29,874 - 53,500 59,747 - 89,150 28% 34.70%
53,501 - 103,600 89,151 - 140,000 31% 37.42%
103,601 - 115,000 -------- - --------- 31% 37.90%
---------- - --------- 140,001 - 207,200 36% 41.95%
115,001 - 207,200 207,201 - 250,000 36% 42.40%
---------- - ---------- 250,001 - 414,4000 36% 43.04%
207,201 - 250,000 414,401 + 39.6% 45.64%
250,001 + 39.6% 46.24%
* Net taxable income after all exemptions, adjustments, and deductions.
These are based on rates currently applicable in 1993 and assume one
exemption for single filers and two exemptions for married couples filing
jointly.
Having determined your combined effective tax bracket above, use the table
below to determine the tax equivalent yield for a given tax-free yield.
If your effective combined federal and state personal tax rate in 1993 is:
32.32% 33.76% 34.70% 37.42% 37.90% 41.95% 42.40% 43.04% 45.64%
46.24%
To match these
tax-free rates: Your taxable investment would have to earn
the following yield:
2% 2.96% 3.02% 3.06% 3.20% 3.22% 3.45% 3.47% 3.51% 3.68% 3.72%
3% 4.43% 4.53% 4.59% 4.79% 4.83% 5.17% 5.21% 5.27% 5.52% 5.58%
4% 5.91% 6.04% 6.13% 6.39% 6.44% 6.89% 6.94% 7.02% 7.36% 7.44%
5% 7.39% 7.55% 7.66% 7.99% 8.05% 8.61% 8.68% 8.78% 9.20% 9.30%
6% 8.87% 9.06% 9.19% 9.59% 9.66% 10.34% 10.42% 10.53% 11.04% 11.16%
7% 10.34% 10.57% 10.72% 11.19% 11.27% 12.06% 12.15% 12.29% 12.88%
13.02%
CFRB-93-2 September 1, 1993
SPARTAN CALIFORNIA MUNICIPAL FUNDS
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 16, 1993
The following tables update those found in the section entitled
"Performance" beginning on page 16.
1993 TAX RATES AND TAX EQUIVALENT YIELDS
Single Return Joint Return Federal Combined California
Taxable Income* Taxable Income* Tax Bracket Tax Bracket
$22,101 - 23,637 $36,901 - 47,274 28% 32.32%
23,638 - 29,873 47,275 - 59,746 28% 33.76%
29,874 - 53,500 59,747 - 89,150 28% 34.70%
53,501 - 103,600 89,151 - 140,000 31% 37.42%
103,601 - 115,000 -------- - --------- 31% 37.90%
---------- - --------- 140,001 - 207,200 36% 41.95%
115,001 - 207,200 207,201 - 250,000 36% 42.40%
---------- - ---------- 250,001 - 414,4000 36% 43.04%
207,201 - 250,000 414,401 + 39.6% 45.64%
250,001 + 39.6% 46.24%
* Net taxable income after all exemptions, adjustments, and deductions.
These are based on rates currently applicable in 1993 and assume one
exemption for single filers and two exemptions for married couples filing
jointly.
Having determined your combined effective tax bracket above, use the table
below to determine the tax equivalent yield for a given tax-free yield.
If your effective combined federal and state personal tax rate in 1993 is:
32.32% 33.76% 34.70% 37.42% 37.90% 41.95% 42.40% 43.04% 45.64%
46.24%
To match these
tax-free rates: Your taxable investment would have to earn
the following yield:
2% 2.96% 3.02% 3.06% 3.20% 3.22% 3.45% 3.47% 3.51% 3.68% 3.72%
3% 4.43% 4.53% 4.59% 4.79% 4.83% 5.17% 5.21% 5.27% 5.52% 5.58%
4% 5.91% 6.04% 6.13% 6.39% 6.44% 6.89% 6.94% 7.02% 7.36% 7.44%
5% 7.39% 7.55% 7.66% 7.99% 8.05% 8.61% 8.68% 8.78% 9.20% 9.30%
6% 8.87% 9.06% 9.19% 9.59% 9.66% 10.34% 10.42% 10.53% 11.04% 11.16%
7% 10.34% 10.57% 10.72% 11.19% 11.27% 12.06% 12.15% 12.29% 12.88%
13.02 %
