PNJCX

Putnam New Jersey Tax Exempt Income Fund

Overall Morningstar Rating

As of 10/31/2025

Rating Category: Muni New Jersey

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

The number of funds in the category for the Overall Morningstar Rating are listed in the funds in category for the 3-year rating.

Morningstar Style Box

As of 09/30/2025

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

Historical Morningstar Ratings

As of 10/31/2025

Years	3
Ratings
Number of Funds In Category	44

Years	5
Ratings
Number of Funds In Category	44

Years	10
Ratings
Number of Funds In Category	37

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See the risks and other important information.

Overview

Tax Information

Federal ID Number 04-3073948

For information on tax years prior to 2008, please contact us

These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.

Distributions per Share ($)

Record Date	Ordinary Dividends	Qualified Dividends	Capital Gain Distributions	Unrecaptured Section 1250 Gain	Non-Taxable Return Of Capital	Section 199a Dividends	Foreign Tax Paid	Exempt Interest Dividends	Interest on Tax Reclaim Refunds
Jan 31	0.000539766	—	—	—	—	—	—	0.016650234	—
Feb 28	0.000566236	—	—	—	—	—	—	0.017466764	—
Mar 31	0.000503154	—	—	—	—	—	—	0.015520846	—
Apr 30	0.000535401	—	—	—	—	—	—	0.016515599	—
May 30	0.000586238	—	—	—	—	—	—	0.018083762	—
Jun 30	0.000301443	—	—	—	—	—	—	0.016633557	—
Jul 31	0.000306658	—	—	—	—	—	—	0.016921342	—
Aug 29	0.000349289	—	—	—	—	—	—	0.019273711	—
Sep 30	0.000311393	—	—	—	—	—	—	0.017182607	—
Oct 31	0.000387559	—	—	—	—	—	—	0.021385441	—
Nov 05	0.000054343	—	—	—	—	—	—	0.002998657	—
	0.00444148	—	—	—	—	—	—	0.17863252	—

Record Date

Jan 31

Ordinary Dividends

0.000539766

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.016650234

Interest on Tax Reclaim Refunds

—

Record Date

Feb 28

Ordinary Dividends

0.000566236

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.017466764

Interest on Tax Reclaim Refunds

—

Record Date

Mar 31

Ordinary Dividends

0.000503154

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.015520846

Interest on Tax Reclaim Refunds

—

Record Date

Apr 30

Ordinary Dividends

0.000535401

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.016515599

Interest on Tax Reclaim Refunds

—

Record Date

May 30

Ordinary Dividends

0.000586238

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.018083762

Interest on Tax Reclaim Refunds

—

Record Date

Jun 30

Ordinary Dividends

0.000301443

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.016633557

Interest on Tax Reclaim Refunds

—

Record Date

Jul 31

Ordinary Dividends

0.000306658

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.016921342

Interest on Tax Reclaim Refunds

—

Record Date

Aug 29

Ordinary Dividends

0.000349289

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.019273711

Interest on Tax Reclaim Refunds

—

Record Date

Sep 30

Ordinary Dividends

0.000311393

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.017182607

Interest on Tax Reclaim Refunds

—

Record Date

Oct 31

Ordinary Dividends

0.000387559

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.021385441

Interest on Tax Reclaim Refunds

—

Record Date

Nov 05

Ordinary Dividends

0.000054343

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.002998657

Interest on Tax Reclaim Refunds

—

Record Date

Ordinary Dividends

0.00444148

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.17863252

Interest on Tax Reclaim Refunds

—

Supplemental Tax Information

Foreign Source Income

—

Foreign Source Qualified Dividends

—

Direct U.S. Government Obligations

—

Specified Private Activity Bond Interest

8.13%

Dividends Received Deduction

—

Section 163(j)

100.00%

Indiana Resident Taxable Income

—

Utah Resident Taxable Income

—

Tax-Exempt Income By Jurisdiction

Alaska

0.64%

California

0.91%

Colorado

0.57%

Delaware

1.73%

Guam

3.01%

Illinois

0.61%

Missouri

1.15%

New Jersey

85.53%

New York

10.14%

Northern Mariana Islands

0.25%

Ohio

0.26%

Pennsylvania

0.24%

Puerto Rico

1.92%

Texas

3.36%

US Virgin Islands

0.27%

Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Documents

Documents not available

Important Information

Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

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Important data provider notices and terms available at www.franklintempletondatasources.com.

Performance data quoted represents past performance, which does not guarantee future results.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.

Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

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Duration