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Subject:  Annuity Tax Date:  5/1/2001  8:37 PM
Author:  liz75 Number:  6617 of 22893

Since I am able to reduce my IRA distribution, I needed to take out some income on a regular basis to make up for the $7000 reduction. I consolidated my Annuities into "Income Advantage" Fidelity. Figured I could have about the same income but not pay as much tax. I was charged a "CALIFORNIA premium tax" on my purchase amount. No one has as yet been able to tell me what this tax is for. Can I use it for a tax deduction ? Or is it one of those little things that the State likes to Zing you with ? Would appreciate any comment or explanation available.

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