2006-06-26 06:35:21 · 4 answers · asked by grandma 1 in Politics & Government ➔ Other - Politics & Government
http://www.savingsbonds.gov/indiv/indiv.htm
search and ye shall find all you need to know....
2006-06-26 06:39:44 · answer #1 · answered by parsonsel 6 · 0⤊ 0⤋
You pay federal income tax on the pastime, yet no longer state income tax. There are some circumstances the position bonds cashed for coaching expenditures will be tax-free, yet those circumstances are not any more regularly met.
2016-11-15 06:59:02 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes - it is exempt. It is money earned from a Federal source - the Feds do not report your earned interest to the states.
2006-06-26 06:54:48 · answer #3 · answered by Coach D. 4 · 0⤊ 0⤋
No, not if your state has a personal income tax.
www.irs.gov can help you find out how your particular state handles savings bond interest
2006-06-26 06:42:12 · answer #4 · answered by Curious 3 · 0⤊ 0⤋