<ARTICLE>                                                        6
 
 <CIK>                                       0000764860
 
 <NAME>                                      FLAGSHIP INTERMEDIATE
                                             TAX EXEMPT FUND

 <SERIES>
 
 <NUMBER>                                                       223
 
 <NAME>                                      CLASS C
 
 <MULTIPLIER>                                                     1

        
 
                                          
 <PERIOD-TYPE>                               OTHER
 
 <FISCAL-YEAR-END>                           MAY-31-1996
 
 <PERIOD-START>                              DEC-01-1995

 <PERIOD-END>                                MAY-31-1996
 
 <INVESTMENTS-AT-COST>                                   48,058,757
 
 <INVESTMENTS-AT-VALUE>                                  48,635,110
 
 <RECEIVABLES>                                              820,086
 
 <ASSETS-OTHER>                                              17,511

 <OTHER-ITEMS-ASSETS>                                             0
 
 <TOTAL-ASSETS>                                          49,472,707
 
 <PAYABLE-FOR-SECURITIES>                                 1,279,556
 
 <SENIOR-LONG-TERM-DEBT>                                          0

 <OTHER-ITEMS-LIABILITIES>                                  264,388
 
 <TOTAL-LIABILITIES>                                      1,543,944
 
 <SENIOR-EQUITY>                                                  0
 
 <PAID-IN-CAPITAL-COMMON>                                47,795,155
 
 <SHARES-COMMON-STOCK>                                      115,505

 <SHARES-COMMON-PRIOR>                                            0
 
 <ACCUMULATED-NII-CURRENT>                                        0
 
 <OVERDISTRIBUTION-NII>                                           0
 
 <ACCUMULATED-NET-GAINS>                                  (442,745)

 <OVERDISTRIBUTION-GAINS>                                         0
 
 <ACCUM-APPREC-OR-DEPREC>                                   576,353
 
 <NET-ASSETS>                                            47,928,763
 
 <DIVIDEND-INCOME>                                                0
 
 <INTEREST-INCOME>                                        2,498,611

 <OTHER-INCOME>                                                   0
 
 <EXPENSES-NET>                                           (267,375)
 
 <NET-INVESTMENT-INCOME>                                  2,231,236
 
 <REALIZED-GAINS-CURRENT>                                 1,178,381

 <APPREC-INCREASE-CURRENT>                              (1,349,675)
 
 <NET-CHANGE-FROM-OPS>                                    2,059,942
 
 <EQUALIZATION>                                                   0
 
 <DISTRIBUTIONS-OF-INCOME>                                 (15,633)
 
 <DISTRIBUTIONS-OF-GAINS>                                         0

 <DISTRIBUTIONS-OTHER>                                            0
 
 <NUMBER-OF-SHARES-SOLD>                                    117,137
 
 <NUMBER-OF-SHARES-REDEEMED>                                (2,589)
 
 <SHARES-REINVESTED>                                            957

 <NET-CHANGE-IN-ASSETS>                                   1,186,824
 
 <ACCUMULATED-NII-PRIOR>                                        699
 
 <ACCUMULATED-GAINS-PRIOR>                              (1,621,126)
 
 <OVERDISTRIB-NII-PRIOR>                                          0
 
 <OVERDIST-NET-GAINS-PRIOR>                                       0 
 
 <GROSS-ADVISORY-FEES>                                      228,684
 
 <INTEREST-EXPENSE>                                               0
 
 <GROSS-EXPENSE>                                            557,574

 <AVERAGE-NET-ASSETS>                                    45,978,680
 
 <PER-SHARE-NAV-BEGIN>                                        10.57
 
 <PER-SHARE-NII>                                               0.23
 
 <PER-SHARE-GAIN-APPREC>                                     (0.30)
 
 <PER-SHARE-DIVIDEND>                                        (0.22)

 <PER-SHARE-DISTRIBUTIONS>                                     0.00
 
 <RETURNS-OF-CAPITAL>                                          0.00
 
 <PER-SHARE-NAV-END>                                          10.28
 
 <EXPENSE-RATIO>                                               1.13

 <AVG-DEBT-OUTSTANDING>                                      92,000
 
 <AVG-DEBT-PER-SHARE>                                          0.02