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.
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single state municipal bond fund

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
* State municipal bond funds invest primarily in municipal bonds issued by a particular state.
We also combine long-term municipal bond and state municipal bond funds into a single category of municipal bond funds.
Also worth checking out are state municipal bond funds, especially if you're in such high-tax states as New York, California or Montana.

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