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Municipal Bond

A bond issued by a local or state government. Municipal bonds are usually used to raise capital for improvements in infrastructure or other aspects of the municipality. For example, a city or school district may issue a bond to build a new school or a new playground. Municipal bonds are exempt from federal income taxes and sometimes from state and local taxes as well. Municipals usually pay lower coupons than corporate bonds, but because the yield is tax-free, the after-tax basis may be higher for a municipal bond. Risk varies with the municipality and the particular type of municipal bond. It is sometimes called a municipal improvement certificate.


Municipal bond (muni).

Municipal bonds are debt securities issued by state or local governments or their agencies to finance general governmental activities or special projects.

For example, a state may float a bond to fund the construction of highways or college dormitories.

The interest a muni pays is usually exempt from federal income taxes, and is also exempt from state and local income taxes if you live in the state where it was issued.

However, any capital gains you realize from selling a muni are taxable, and some muni interest may be vulnerable to the alternative minimum tax (AMT).

Munis generally pay interest at a lower rate than similarly rated corporate bonds of the same term. However, they appeal to investors in the highest tax brackets, who may benefit most from the tax-exempt income.

References in periodicals archive ?
Geneva [Switzerland], Mar 13 ( ANI ): Pakistan and China have no legal rights to carry out any economic activity in Balochistan, a territory under Pakistani occupation, said Baloch political activist Munir Mengal during the 37th UN Session on Human Rights here on Tuesday.
The court however, acquitted other three accused Munir, Maqbool and Zafar over advantage of the doubt.
Knowing he needed to do well after slipping six shots behind on Friday, Munir sank four birdies but two bogeys meant he still has work to on Sunday.
According to sources and eyewitnesses, Additional Session Judge Irfan Nasim Tarar took up interim bail plea filed by Muhammad Idress, the rapist of the deaf and dumb girl, when Munir Ahmed, the girl's father, appeared before judge and submitted an affidavit stating he had compromised with the accused on intervention of 'notables of the area' and did not want to pursue the case further.
Munir claimed three wickets and gave away just 32 runs in his seven overs, while Matiullah and Sajid Nawaz were also among the wickets.
Muscat: Young Omani talent Munir Al Rawahi won the doubles title and the singles second place in the Asian Under-14 Tennis Championship held in Riyadh, Saudi Arabia.
The pursuit ended when Munir went across a junction without stopping and smashed into two parked cars, causing minor damage to one but more extensive damage to the other.
He as a chief guest clearly said after removal of technical problems, the cinema road in provincial metropolitan would be named Badar Munir on public demand.
Mohammed Munir, 28, roped in accomplices for the elaborate scam because he could not afford to keep up repayments on his Mercedes.
BAGHDAD / NINA / Judge Munir Haddad, former Vice President of the Criminal Court, survived on Thursday evening of an assassination attempt on Mohammed al-Qasim road east of Baghdad.
TEHRAN (FNA)- Arsenal and Chelsea suffered a set-back in their respective pursuits of Barcelona's forward prodigy Munir El Haddadi.
Sakib Ahmed, 19, and former taxi driver Shakil Munir, 32, were each given eight-year sentences.