Taxable Bond
A bond, the interest on which is not excludable from gross income for federal income tax purposes.
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Tax Credit Bond
A Taxable Bond that provides a tax credit to the holder in lieu of tax-exempt interest.
Dive Deeper on Tax Issues
Learn more about how various aspects of tax law intersect with municipal securities.
See Also
Tax-Advantaged Bonds
Includes tax-exempt bonds, tax credit bonds and direct pay bonds.
Start with the Bond Basics
Hundreds of Terms and Concepts
Master (Trust) Indenture
A type of indenture which permits the issuance from time to time of one or more series of bonds under the same indenture in addition to the initial series of bonds.