Federal Tax Treatment of State and Local Securities

Federal Tax Treatment of State and Local Securities

by David J. Ott, Allan H. Meltzer
     
 

The federal income tax exemption for state and local government securities has been a controversial issue for many years. Opponents of the exemption believe that it is inequitable, reduces risk investment by high-bracket taxpayers, and costs an excessive amount to the federal government. Proponents argue that elimination of the tax exemption would make the cost of

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Overview

The federal income tax exemption for state and local government securities has been a controversial issue for many years. Opponents of the exemption believe that it is inequitable, reduces risk investment by high-bracket taxpayers, and costs an excessive amount to the federal government. Proponents argue that elimination of the tax exemption would make the cost of borrowing money to many state and local governments prohibitive. The purpose of the study was to try to narrow down the differences among experts in taxation and the municipal bond market on the facts and analyses with regard to this matter of public policy.

Product Details

ISBN-13:
9780313223068
Publisher:
ABC-CLIO, Incorporated
Publication date:
04/18/1980
Series:
Brookings Institution. National Committee on Government Finance. Studies of Government Finance Series
Pages:
162
Product dimensions:
6.00(w) x 9.00(h) x 0.50(d)

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