Municipal Bond Forum
State where you file dictates whether you pay taxes
Q
Is it a crime to own interest-paying municipal bonds from different states?
A
James A. Klotz responds:
No, it’s not a crime. States that have income taxes, however, tax interest generated by bonds issued in other states. The state in which you file taxes determines state taxability of your bonds. For example, Florida residents enjoy tax-free income from any state as Florida does not have a state tax.
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