Story thread · 2 reports / 2 sources

$250,000 Sitting in SPAXX Pays State Tax on Most of Its Interest While FDLXX Holders Pay Almost None

247wallst.com · 2h · first reportShare

Park $250,000 in the Fidelity Government Money Market Fund (NASDAQ:SPAXX) at today’s roughly 3.5% yield, and you collect about $8,750 in interest a year. Your state wants a cut of nearly half of it. Move the same cash into Fidelity’s Treasury-only sibling and your state gets almost nothing in tax. Same issuer. Same expense ratio. […]