1.023 -Exemption of Interest from Massachusetts Obligations
| Item | Description | FY2008 | FY2009 | FY2010 |
|---|---|---|---|---|
| 1.023 | Exemption of Interest from Massachusetts Obligations
Interest earned on Massachusetts bonds is exempt. The exclusion applies to bonds of Massachusetts agencies and local subdivisions as well. Origin: M.G.L. c. 62, S. 2 (a)(1)(A) Estimate: $131.9 |
120 | 124 | 131.9 |
Key:
| ORIGIN | |
| IRC | Federal Internal Revenue Code (26 U.S.C.) |
|---|---|
| U.S.C | United States Code |
| M.G.L. | Massachusetts General Laws |
| Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
| ESTIMATES | All estimates are in $ millions. |
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