Can my S Corp hold tax exempt municipal bonds and benefit from the federal, state (same state as incorporated and operated in) and local tax exemption rule?

Let's say my S-Corp was incorporated in New Mexico and purchases New Mexico tax exempt municipal bonds. Will the income from the munis eligible for federal state and local tax exemption just as a natural person investor would? Thank you!

posted

Yes, municipal bonds are exempt from federal taxes for corporations or individuals.

@nguyendiepanh

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Can my S Corp hold tax exempt municipal bonds and benefit from the federal, state (same state as incorporated and operated in) and local tax exemption rule?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Can my S Corp hold tax exempt municipal bonds and benefit from the federal, state (same state as incorporated and operated in) and local tax exemption rule?

Can my S Corp hold tax exempt municipal bonds and benefit from the federal, state (same state as incorporated and operated in) and local tax exemption rule?

Get more help

Do you have a TurboTax Online account?

Can my S Corp hold tax exempt municipal bonds and benefit from the federal, state (same state as incorporated and operated in) and local tax exemption rule?

Do you have an Intuit account?

Can my S Corp hold tax exempt municipal bonds and benefit from the federal, state (same state as incorporated and operated in) and local tax exemption rule?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert