<ARTICLE>                                                        6
 
 <CIK>                                       0000764860

 <NAME>                         FLAGSHIP INTERMEDIATE TAX EXEMPT FUND
 
 <SERIES>

 <NUMBER>                                                       221
 
 <NAME>                                      CLASS A

 <MULTIPLIER>                                                     1
 
        

                                          
 <PERIOD-TYPE>                               YEAR
 
 <FISCAL-YEAR-END>                           MAY-31-1996
 
 <PERIOD-START>                              JUN-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>                                    4,551,635
 
 <SHARES-COMMON-PRIOR>                                    4,088,387

 <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>                              (2,230,105)

 <DISTRIBUTIONS-OF-GAINS>                                         0 
 
 <DISTRIBUTIONS-OTHER>                                            0
 
 <NUMBER-OF-SHARES-SOLD>                                  1,461,305

 <NUMBER-OF-SHARES-REDEEMED>                            (1,134,391)
 
 <SHARES-REINVESTED>                                        136,334

 <NET-CHANGE-IN-ASSETS>                                   4,673,438
 
 <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>                                        10.29

 <PER-SHARE-NII>                                               0.51
 
 <PER-SHARE-GAIN-APPREC>                                     (0.02)

 <PER-SHARE-DIVIDEND>                                        (0.51)
 
 <PER-SHARE-DISTRIBUTIONS>                                     0.00

 <RETURNS-OF-CAPITAL>                                          0.00
 
 <PER-SHARE-NAV-END>                                          10.27

 <EXPENSE-RATIO>                                               0.62
 
 <AVG-DEBT-OUTSTANDING>                                      92,000
 
 <AVG-DEBT-PER-SHARE>                                          0.02