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What is Federal Tax Exemption for U.S. Obligations about?

This document discusses the taxation of obligations of the United States. It notes that from McCulloch v. Maryland in 1819, an unbroken line of cases has established that states cannot tax property held by the United States or bonds issued by the United States. The purpose of exempting federal obligations from most state and local taxes is to protect the market value and investment attractiveness of federal obligations and to help the government secure necessary credit. However, the exemption required by th

Author

TRISTARUSA

Language

EN