In the case of interest income from state and Federal bonds:
A) Interest on U.S.government bonds received by a state resident can be subject to that state's income tax.
B) Interest on U.S.government bonds is subject to Federal income tax.
C) Interest on bonds issued by State A received by a resident of State B cannot be subject to income tax in State B.
D) All of these are correct.
E) None of these is correct.
Correct Answer:
Verified
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