Is Vnytx tax free?
Vanguard New York Long-Term Tax-Exempt Fund;Investor The Fund seeks to provide current income that is exempt from both federal and New York personal income taxes. The Fund invests primarily in high-quality municipal bonds issued by New York State and local and regional governments.
Is interest on New York state bonds subject to federal tax?
Generally, interest earned on New York State Bonds is exempt from federal, state, and local income taxes. However, certain New York State Bonds offer interest income that is taxable at the federal level, but not at the state (and often local) level for New York State residents.
Are Puerto Rico bonds tax-free in NY?
Bonds issued by the government of Puerto Rico and its subdivisions are exempt from federal, state, and local taxes (so called “triple tax exemption”). However, unlike other triple tax exempt bonds, Puerto Rican bonds uphold such exemption regardless of where the bond holder resides.
Are I bonds state tax exempt?
Tax-exemption In the case of tax-free bonds, the interest income is entirely tax-exempt. Also, the tax deducted at source (TDS) does not apply to these bonds. However, it is advisable to declare your interest income as the principal amount invested in tax-free bonds do not qualify for a tax deduction under Section 80C.
Is interest from Puerto Rico taxable?
All bonds issued by the Government of Puerto Rico, or by its authority, shall be exempt from taxation by the Government of the United States, or by the Government of Puerto Rico or of any political or municipal subdivision thereof, or by any State, Territory, or possession, or by any county, municipality, or other …
What are Puerto Rican bonds?
The Puerto Rico Sales Tax Revenue Bonds (commonly known as COFINA bonds) are government bonds issued by the Urgent Interest Fund Corporation (COFINA) to pay the extraconstitutional public debt of Puerto Rico.
How much does Puerto Rico owe?
Puerto Rico’s bankruptcy started in May 2017, when it sought to restructure most of the $74 billion of debt the commonwealth and its agencies owed at that time.