Mutual Funds For Dummies by Eric Tyson

Author:Eric Tyson
Language: eng
Format: mobi
Publisher: John Wiley & Sons, Ltd.
Published: 2010-06-08T20:00:00+00:00

Municipals: Munis are state and local government bonds that pay federally tax-free and state-tax-free interest to those who reside in the state of issue. The governments that issue municipal bonds know that the investors who buy municipals don’t have to pay most or any of the income tax that normally would be required on other bonds — which enables the issuing governments to attract buyers at a lower rate of interest. Later in this chapter (in the section “How to obtain tax-free income”), I explain how to determine if you’re in a high enough tax bracket to benefit from muni bonds.

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