Issued by nonfederal government entities, these financial instruments are debt securities that fund their capital expenditures. they are exempt from most taxes imposed in the area where the securities are issued.
Question: Issued by nonfederal government entities, these financial instruments are debt securities that fund their capital expenditures. they are exempt from most taxes imposed in the area where the securities are issued.
Municipal bonds are debt securities issued by nonfederal government entities, such as states, cities, towns, counties and special districts to finance their capital expenditures. These bonds are usually partially or entirely exempt from federal, state, and local taxes, and as a result, they offer investors a way to lower their overall taxes by investing in them. The tax-exempt status of municipal bonds makes them attractive investments to people living in the area where the securities are issued, since income earned from the bonds is not subject to certain taxes imposed in that area and reduces their overall tax burden.
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