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These muni bond funds offer tax-exempt income.Municipal bonds, sometimes referred to as munis, are issued by various government entities such as states, counties and municipalities. 7 Best Tax ...
The interest earned on municipal bonds is exempt from federal income tax (and in some cases, state and local tax as well), making them potentially attractive to investors in higher tax brackets.
Below, we share with you three municipal bond funds, namely, AUNAX, HICOX and TXRAX. Each has earned a Zacks Mutual Fund Rank #1. 3 Municipal Bond Funds for Tax-Exempted Income
Build America Bonds can provide states and localities with substantial savings on their borrowing costs. According to the United States Department of the Treasury, the savings for a 10-year bond are estimated to be 31 basis points and the savings for a 30-year bond are estimated to be 112 basis points versus traditional tax-exempt financing. [5]
A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
That perception could thus potentially allow a local government to borrow at a lower interest rate, saving its taxpayers' money over the life of the bonds. Despite that advantage, many states, such as California under Proposition 13, do not allow local governments to issue unlimited-tax general obligation debt without a public vote.
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