single state municipal bond fund

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Single State Municipal Bond Fund

In the United States, a mutual fund that invests exclusively in municipal bonds issued in a single state. The returns from such a fund are exempt from all federal taxes and all state taxes if the bondholder is a resident of that state. A single state municipal bond fund is attractive to locals and encourages them to invest in the fund. It is particularly important in states such as New York, with large populations, and states with high capital gains taxes, such as Oregon.

single state municipal bond fund

References in periodicals archive ?
which is an investment management firm specializing in single state municipal bond funds.
Despite the popularity of single state municipal bond funds, which enable residents of most states who invest in such funds to enjoy the "double tax exempt" status of exemption on earnings from both state and federal taxes, there have not previously been any "Illinois-only" municipal bond funds because few of the bonds issued by Illinois state and local governments are exempt from state taxes.

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