Content
- What Are Municipal Bonds?
- An Investment For Today's Tax-conscious Investor
- How Safe Are Municipal Bonds?
- The Advantages of Tax Exemption
- Understanding Yields
- Understanding Market Risk
- Understanding Calls
- Gains and Losses
- Types of Tax-exempt Municipal Bonds
- Bonds With Special Investment Features
- Taxable Municipal Bonds
- Other Basic Facts
- The Tax-exempt Municipal Bond Market-How Big and Who Buys?
- Tax-exempt/Taxable Yield Equivalents
- State Taxation of Municipal Bonds for Individuals
- State Taxation of Municipal Bonds for Corporations
- Glossary
All information and opinions contained in this publication were produced by the Securities Industry and Financial Markets Association (SIFMA) from our membership and other sources believed by SIFMA to be accurate and reliable. By providing this general information, SIFMA is neither recommending investing in securities, nor providing investment advice for any investor. Due to rapidly changing market conditions and the complexity of investment decisions, please consult your investment advisor regarding investment decisions.
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- Bond Basics
- State Taxation of Municipal Bonds for Individuals
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State Taxation of Municipal Bonds for Corporations
To view the chart, in PDF* format, on state taxation of municipal bonds for individuals, click here.
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| STATE | STATE'S OWN BONDS | OTHER STATE'S BONDS |
|---|---|---|
| Alabama | X | |
| Alaska (no tax) | ||
| Arizona | X | |
| Arkansas | X | |
| California Franchise | X | X |
| California Income | X | |
| Colorado | X | |
| Connecticut | X | X(5) |
| Delaware | X | |
| District of Columbia | X | |
| Florida | X | X |
| Georgia | X | |
| Hawaii | X | |
| Idaho | X | |
| Illinois | X(6) | X(6) |
| Indiana | X(7) | |
| Iowa | X(6) | X |
| Kansas | X | |
| Kentucky | X | |
| Louisiana | ||
| Maine | X | |
| Maryland | X | |
| Massachusetts | X | X |
| Michigan | X | |
| Minnesota | X | X |
| Mississippi | X | |
| Missouri | X | |
| Montana | X(6) | X |
| Nebraska | X | |
| Nevada (no tax) | ||
| New Hampshire | X | |
| New Jersey | X | X |
| New Mexico | X | |
| New York(8) | X | X |
| North Carolina | X | |
| North Dakota | X | |
| Ohio | ||
| Oklahoma | X(6) | X |
| Oregon | X | |
| Pennsylvania | ||
| Rhode Island | X | |
| South Carolina | X | |
| South Dakota | X | X |
| Tennessee | X | X |
| Texas | ||
| Utah | X | X |
| Vermont | X | |
| Virginia | X | |
| Washington (no tax) | ||
| West Virginia | X(5) | X |
| Wisconsin | X(6) | X |
| Wyoming (no tax) |
| (5) Pro-rata adjustment is allowed. (6) Interest on some obligations is exempt by law. (7) Taxable only for gross income tax purposes. (8) Interest on U.S. obligations and obligations of all states would not be taxable if the investment allocation percentage is zero. Otherwise, the interest is taxable at the investment allocation percentage. Source: Reproduced with permission from State Tax Guide, published and copyrighted by Commerce Clearing House, Inc., 4025 W. Peterson Ave., Chicago, Illinois 60646. Reflects law through 1/1/10. |
