Municipal bonds are usually exempt from income taxes. Because investors care about the after-tax returns on their
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Municipal bonds are usually exempt from income taxes. Because investors care about the after-tax returns on their investments, these bonds have lower yields than bonds whose interest payments are taxable.
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Indeed municipal bonds are often exempt from federal income taxes and in some cases they may also be exempt from state and local income taxes particul...View the full answer
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Money Banking And Financial Markets
ISBN: 9781260226782
6th Edition
Authors: Stephen Cecchetti, Kermit Schoenholtz
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