@clomein1
I like your market based answer and as a matter of fact made a similar case in another forum. It is logical. But unfortunately still not conclusive or authoritative.
@fjsingel
“PA and NH here
Talked to my friend who is a CPA and has a Master's Degree in Taxation.
He said that you do not pay tax on the AMD in either state. He said that it really isn't up to the state as states are prevented from taxing US government interest under Article VI, Clause 2, of the US Constitution. See McCulloch v. Maryland, Osborn v. Bank of the United States, and Weston v. Charleston. In the Weston case the court explicitly held that states cannot tax interest on US bonds and other securities. He said that AMD is considered interest.”
I wish you had not said that because I was just getting to my happy place on another site with the opinion of a tax attorney who states that AMD is NOT exempt from state income taxes (I have not asked the question yet but his comment seemed imply that it is not exempt in ANY state).
