There are two broad, fundamental types of money market mutual funds available to invest in.  They are grouped as institutional money market funds and retail money market funds.  These two categories are furthered subdivided into taxable and tax-free money market funds.  Within the tax free money market fund category, the money market funds can be furthered divided into general tax free money market funds and state specific tax free money funds.   Within the taxable money market fund category, the funds can be further divided into government only taxable funds, prime money market mutual funds and general money market funds.

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