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Triple-Tax-Free |
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Triple-Tax-Free Describing a municipal bond that is exempt from federal, state, and local taxes. The United States Constitution forbids the federal government from taxing state and local bonds. Most states and municipalities offer tax exemptions for residents who invest in their bonds; thus, to be eligible for triple-tax-free status, a bondholder must be resident in the municipality and/or state issuing the bond. Triple-tax-free bonds almost always offer low returns, exposing bondholders to inflation risk. See also: after-tax basis. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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