Multiple Choice
Which of the following statements is most correct?
A) Income from the obligations of the federal government is exempt from all state and local taxes but is subject to federal and state inheritance, estate, or gift taxes.
B) Income from the obligations of the federal government is exempt from all federal taxes but is subject to state and local income taxes, state inheritance, estate, or gift taxes.
C) Income from the obligations of the federal government is exempt from all federal, state and local taxes but is subject to inheritance, estate, or gift taxes.
D) Treasury notes and bonds pay interest monthly by check
Correct Answer:
Verified
Correct Answer:
Verified
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