Asked by David Crouch on May 22, 2024

verifed

Verified

Interest is always exempt from state income taxes in any type of bonds.

State Income Taxes

Taxes levied by individual states on the income of residents and businesses within their jurisdiction.

  • Attain familiarity with the different financial instruments and securities, comprehending their risk factors and insurance options.
verifed

Verified Answer

SM
Sophia MorrowMay 28, 2024
Final Answer :
False
Explanation :
Interest from bonds is not always exempt from state income taxes. While interest from municipal bonds issued by one's own state may be exempt, interest from bonds issued by other states or from corporate bonds is typically subject to state income taxes.