State & Other Tax Issues

 

Preparing your annual federal income tax return is a complex process. State and local taxes, along with other considerations, can further complicate matters. Learn more about some of the issues you may encounter in the preparation of your 2023 tax returns. You should consider this information in conjunction with your annual Tax Reporting Package, which includes your federal Form 1099-DIV.

All of the tax data included here has been prepared solely by BNY Mellon.* The information provided here is general in nature and does not constitute tax advice. You should consult your tax advisor to help you determine how the data provided applies to your specific tax situation.

* BNY Mellon does not guarantee the accuracy or completeness of any of the information presented.

Retail Prime and Tax-Exempt/Municipal Money Market Funds:You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors.  An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. Retail Prime and Tax-Exempt/Municipal funds include: Dreyfus BASIC Money Market Fund, Inc., Dreyfus Liquid Assets, Inc., Dreyfus Prime Money Market Fund, General Money Market Fund, Inc., General AMT-Free Municipal Money Market Fund, General California Municipal Money Market Fund, General Municipal Money Market Fund, General New Jersey Municipal Money Market Fund, Inc, and General New York AMT-Free Municipal Money Market Fund. 
Institutional Prime and Tax-Exempt Money Market Funds: You could lose money by investing in a money market fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

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