"A.G. Kalman" <agkdisposable-mtm2[at]yahoo.com> wrote:
- quote -


Thanks!

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Bob L wrote:

- quote -

They are not subject to state taxation. Here is a
comprehensive list of those obligations not subject to state
tax and I have also included a list of those obligations
that taxpayers sometimes confuse with tax-exempt obligations
(i.e., they are taxable by the states. Data is sourced from
State of Kentucky regulations:

(1) The list in this subsection shall serve as examples of
departments, agencies, and instrumentalities that issue
United States government obligations from which interest
income shall be exempt from state taxation.

(a) U.S. Treasury (Bonds);
(b) U.S. Treasury (Series EE and HH Savings Bonds and I Bonds);
(c) U.S. Treasury (Certificates of Indebtedness);
(d) U.S. Treasury (Bills);
(e) U.S. Treasury (Notes);
(f) U.S. Treasury (Note and Bond "Strips");
(g) Commodity Credit Corporation;
(h) Central Banks for Cooperatives and Banks for Cooperatives;
(i) Farm Credit Banks;
(j) Federal Land Bank Associations;
(k) Production Credit Associations;
(l) Farm Credit System Financial Assistance Corporation;
(m) Federal Deposit Insurance Corporation;
(n) Federal Financing Bank;
(o) Federal Home Loan Banks;
(p) Federal Savings and Loan Insurance Corporation;
(q) General Insurance Fund, Department of Housing and Urban
Development, Rental Housing Insurance, War Housing
Insurance Project, Rental Housing Project, Armed
Services Housing, National Defense Housing Insurance,
Neighborhood Conservation Housing Insurance;
(r) Guam (Bonds);
(s) Puerto Rico (Bonds);
(t) Virgin Islands (General Obligation Bonds and Public
Improvement Bonds);
(u) American Samoa (Industrial Development Bonds);
(v) Student Loan Marketing Association (SLMA or
"Sallie Mae");
(w) Tennessee Valley Authority (Bonds); or
(x) United States Postal Service.

(2) The list in this subsection shall serve as examples of
organizations which issue obligations from which interest
income shall be taxable for Kentucky income tax purposes.

(a) Bank Certificates of Deposit;
(b) Farmers Home Administration;
(c) Federal Home Loan Mortgage Corp. (FHLMC or "Freddie
Mac");
(d) Federal National Mortgage Association (FNMA or
"Fannie Mae");
(e) Government National Mortgage Association (GNMA or
"Ginnie Mae");
(f) Inter-American Development Bank;
(g) International Bank for Reconstruction and Development
(World Bank); or
(h) International Monetary Fund.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >

I've got 2006 interest from Federal Farm Credit Bank (FFCB)
and Federal Home Loan Bank (FFLB) bonds. Is this interest
subject to state tax?

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >