Importance of Tax-Exempt Financing to State and Local Governments
Members of Congress and other officials of the federal government have recently been discussing eliminating in whole or in part the tax-exemption for interest on bonds issued by state and local governments. The National Association of Bond Lawyers has released a paper on the importance of tax-exempt financing to state and local governments. The paper examines the arguments for eliminating or curtailing the exemption of interest on state and local bonds from federal income tax, and concludes:
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Sherman & Howard has prepared this advisory to provide general information on recent legal developments that may be of interest. This advisory does not provide legal advice for any specific situation and this does not create an attorney-client relationship between any reader and the Firm.
© 2012 Sherman & Howard L.L.C. September 25, 2012