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Tax-Exempt Commercial Paper |
Also found in: Acronyms | 0.03 sec. |
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Tax-Exempt Commercial Paper An unsecured short-term loan, usually issued to finance short-term liabilities, that provides the debtholders (bondholders) some level of tax preference on the earnings from their debt investment at a local, state or federal level, or a combination thereof. Notes: Universities often issue tax-exempt commercial papers to finance their operations with the help of the government. Governments help universities finance their operations because it is beneficial for the population to have post-secondary education. Though governments do not necessarily provide the universities with cash injections, they allow them to issue commercial papers that can earn tax-exempt gains for the people who buy the commercial papers. |
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