PUTNAM ARIZONA TAX EXEMPT INCOME FUND
NSAR-A, 1995-04-27
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<PAGE>      PAGE  1
000 A000000 02/28/95
000 C000000 0000869392
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM ARIZONA TAX EXEMPT INCOME FUND
001 B000000 811-6258
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02019
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
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007 C010100  1
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007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 PUTNAM INVESTMENT MANAGEMENT , INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
018  000000 Y
019 A000000 Y
019 B000000   75
<PAGE>      PAGE  2
019 C000000 PUTNAMFUND
020 A000001 SCOTT BALDWIN
020 B000001 31-9581870
020 C000001      5
020 A000002 PAINE WEBBER, INC.
020 B000002 13-2638166
020 C000002      2
020 A000003 SCOTT & STRINGFELLOW
020 B000003 54-0957557
020 C000003      1
020 A000004 DEAN WITTER REYNOLDS
020 B000004 94-1671384
020 C000004      1
020 A000005 MERRILL LYNCH PIERCE FENNER SMITH
020 B000005 13-5674085
020 C000005      1
020 A000006 BANK OF AMERICA
020 B000006 94-1687665
020 C000006      1
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       11
022 A000001 PAINE WEBBER, INC.
022 B000001 13-2638166
022 C000001      7168
022 D000001     14403
022 A000002 PRUDENTIAL SECURITIES
022 B000002 22-2347336
022 C000002      6539
022 D000002      5762
022 A000003 SMITH BARNEY SHEARSON
022 B000003 13-1912900
022 C000003      9650
022 D000003      2337
022 A000004 LEHMAN SECURITIES
022 B000004 13-2518466
022 C000004      4941
022 D000004      4502
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005      4348
022 D000005      4715
022 A000006 JP MORGAN
022 B000006 13-3224016
022 C000006      4117
022 D000006      4739
022 A000007 MORGAN STANLEY
022 B000007 13-2655998
022 C000007      2700
<PAGE>      PAGE  3
022 D000007      4520
022 A000008 SEATTLE NORTHWEST SECURITIES
022 B000008 91-1172183
022 C000008      1353
022 D000008      5030
022 A000009 MERRILL LYNCH PIERCE FENNER SMITH
022 B000009 13-5674085
022 C000009      4719
022 D000009      1716
022 A000010 WILLIAM SIMON
022 B000010 22-3017217
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028 H000000     10864
029  000000 Y
030 A000000    306
030 B000000  4.75
030 C000000  0.00
031 A000000     20
031 B000000      0
<PAGE>      PAGE  4
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035  000000      6
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042 A000000   0
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042 C000000 100
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
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SIGNATURE   GORDON H. SILVER                             
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam  Arizona Tax Exempt Class A AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                                 <C>
<PERIOD-TYPE>                                      SEMI
<FISCAL-YEAR-END>                           FEB-28-1994
<PERIOD-END>                                FEB-28-1994
<INVESTMENTS-AT-COST>                       152,633,444
<INVESTMENTS-AT-VALUE>                      155,491,123
<RECEIVABLES>                                 2,534,156
<ASSETS-OTHER>                                  831,404
<OTHER-ITEMS-ASSETS>                             11,020
<TOTAL-ASSETS>                              158,867,703
<PAYABLE-FOR-SECURITIES>                      4,389,736
<SENIOR-LONG-TERM-DEBT>                               0
<OTHER-ITEMS-LIABILITIES>                     1,863,872
<TOTAL-LIABILITIES>                           6,253,608
<SENIOR-EQUITY>                                       0
<PAID-IN-CAPITAL-COMMON>                    155,635,152
<SHARES-COMMON-STOCK>                        15,240,757
<SHARES-COMMON-PRIOR>                        16,171,783
<ACCUMULATED-NII-CURRENT>                        77,586
<OVERDISTRIBUTION-NII>                                0
<ACCUMULATED-NET-GAINS>                     (5,895,944)
<OVERDISTRIBUTION-GAINS>                              0
<ACCUM-APPREC-OR-DEPREC>                      2,797,301
<NET-ASSETS>                                152,614,095
<DIVIDEND-INCOME>                                     0
<INTEREST-INCOME>                                     0
<OTHER-INCOME>                                        0
<EXPENSES-NET>                                  756,974
<NET-INVESTMENT-INCOME>                       4,468,076
<REALIZED-GAINS-CURRENT>                    (3,498,522)
<APPREC-INCREASE-CURRENT>                     2,140,836
<NET-CHANGE-FROM-OPS>                         3,065,722
<EQUALIZATION>                                        0
<DISTRIBUTIONS-OF-INCOME>                   (3,937,695)
<DISTRIBUTIONS-OF-GAINS>                              0
<DISTRIBUTIONS-OTHER>                                 0
<NUMBER-OF-SHARES-SOLD>                         811,722
<NUMBER-OF-SHARES-REDEEMED>                 (1,960,018)
<SHARES-REINVESTED>                             217,270
<NET-CHANGE-IN-ASSETS>                      (6,583,051)
<ACCUMULATED-NII-PRIOR>                               0
<ACCUMULATED-GAINS-PRIOR>                             0
<OVERDISTRIB-NII-PRIOR>                         (5,215)
<OVERDIST-NET-GAINS-PRIOR>                  (2,352,754)
<GROSS-ADVISORY-FEES>                           448,871
<INTEREST-EXPENSE>                                    0
<GROSS-EXPENSE>                                 756,974
<AVERAGE-NET-ASSETS>                        147,651,259
<PER-SHARE-NAV-BEGIN>                              8.84
<PER-SHARE-NII>                                     .26
<PER-SHARE-GAIN-APPREC>                           (.07)
<PER-SHARE-DIVIDEND>                                  0
<PER-SHARE-DISTRIBUTIONS>                         (.25)
<RETURNS-OF-CAPITAL>                                  0
<PER-SHARE-NAV-END>                                8.78
<EXPENSE-RATIO>                                     .42
<AVG-DEBT-OUTSTANDING>                                0
<AVG-DEBT-PER-SHARE>                                  0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam  Arizona Tax Exempt Class B AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                                 <C>
<PERIOD-TYPE>                                      SEMI
<FISCAL-YEAR-END>                           FEB-28-1994
<PERIOD-END>                                FEB-28-1994
<INVESTMENTS-AT-COST>                       152,633,444
<INVESTMENTS-AT-VALUE>                      155,491,123
<RECEIVABLES>                                 2,534,156
<ASSETS-OTHER>                                  831,404
<OTHER-ITEMS-ASSETS>                             11,020
<TOTAL-ASSETS>                              158,867,703
<PAYABLE-FOR-SECURITIES>                      4,389,736
<SENIOR-LONG-TERM-DEBT>                               0
<OTHER-ITEMS-LIABILITIES>                     1,863,872
<TOTAL-LIABILITIES>                           6,253,608
<SENIOR-EQUITY>                                       0
<PAID-IN-CAPITAL-COMMON>                    155,635,152
<SHARES-COMMON-STOCK>                         2,136,534
<SHARES-COMMON-PRIOR>                         1,839,263
<ACCUMULATED-NII-CURRENT>                        77,586
<OVERDISTRIBUTION-NII>                                0
<ACCUMULATED-NET-GAINS>                     (5,895,944)
<OVERDISTRIBUTION-GAINS>                              0
<ACCUM-APPREC-OR-DEPREC>                      2,797,301
<NET-ASSETS>                                152,614,095
<DIVIDEND-INCOME>                                     0
<INTEREST-INCOME>                                     0
<OTHER-INCOME>                                        0
<EXPENSES-NET>                                  756,974
<NET-INVESTMENT-INCOME>                       4,468,076
<REALIZED-GAINS-CURRENT>                    (3,498,522)
<APPREC-INCREASE-CURRENT>                     2,140,836
<NET-CHANGE-FROM-OPS>                         3,065,722
<EQUALIZATION>                                        0
<DISTRIBUTIONS-OF-INCOME>                     (447,580)
<DISTRIBUTIONS-OF-GAINS>                              0
<DISTRIBUTIONS-OTHER>                                 0
<NUMBER-OF-SHARES-SOLD>                         466,855
<NUMBER-OF-SHARES-REDEEMED>                   (197,004)
<SHARES-REINVESTED>                              27,420
<NET-CHANGE-IN-ASSETS>                      (6,583,051)
<ACCUMULATED-NII-PRIOR>                               0
<ACCUMULATED-GAINS-PRIOR>                             0
<OVERDISTRIB-NII-PRIOR>                         (5,215)
<OVERDIST-NET-GAINS-PRIOR>                  (2,352,754)
<GROSS-ADVISORY-FEES>                           448,871
<INTEREST-EXPENSE>                                    0
<GROSS-EXPENSE>                                 756,974
<AVERAGE-NET-ASSETS>                         10,167,895
<PER-SHARE-NAV-BEGIN>                              8.83
<PER-SHARE-NII>                                     .23
<PER-SHARE-GAIN-APPREC>                           (.06)
<PER-SHARE-DIVIDEND>                                  0
<PER-SHARE-DISTRIBUTIONS>                         (.23)
<RETURNS-OF-CAPITAL>                                  0
<PER-SHARE-NAV-END>                                8.77
<EXPENSE-RATIO>                                    1.31
<AVG-DEBT-OUTSTANDING>                                0
<AVG-DEBT-PER-SHARE>                                  0
        

</TABLE>


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